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The Bot Brief
POSTED 10/20/2024
"There is no force on earth more powerful than an idea whose time has come."
- Victor Hugo
Bots in the News:
As in the prior week, there was little movement from either the Bot Index or the S & P 500. The broad market eked out an 85-basis point increase while the bots slid a like amount. The Bot Index was hampered by significant weakness in its Asian holdings. Chinese EV maker NIO Inc. led the losers with a 16.35% collapse as investors continue to view the Chinese economy as being in peril. The Bot Index’s Japanese stocks – OMRON Corp. (-7.88%), Yaskawa Electric (-6.22%), Keyence Corp. (-4.65%) and Fanuc Corp. (-2.84%) reflected the overall weakness in the NIKKEI.
The only gainer of noteworthy was Intuitive Surgical who rose 7.50%. The company reported blowout revenue and earnings growth for the quarter. Revenues were up 17% from 3Q 2023), while net income gained 36% and profit margin jumped to 28% from 24% in 3Q 2023). Consequently, EPS came in at $1.59 (up from $1.18 in 3Q 2023).
Will Robots Replace Pharmaceuticals as the Advertising Industry’s Newest Target:
Have you noticed that about every other TV ad has a catchy slogan to prompt an aging population to seek solace from their various and sundry physical and emotional maladies? So too, have recently appeared are advertisements touting gold and other mining stocks. What was once the preserve of venture capitalists and IPO underwriters, newly formed public ventures have taken to the airwaves to seek investors.
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Recently, this quest for potential investors has taken hold in the automation space. Several colleagues have sent me copies of solicitations for a robotic restaurant company. Miso Robotics has been actively soliciting investors for its Flippy automated fry cooker. The company is touting its relationship with proven fast-food chains such as White Castle, Jack in the Box and CaliBurger. In a recent video ad, the company has been actively seeking investors much like the plethora of ads for pharmaceuticals and mining companies. Interestingly, this recent flyer requests potential investors to join a ‘waiting list’ for a secondary offering. This seems to be a non-public – public offering which has reddit all abuzz.
While it is unlikely that this divergence from traditional IPO’s will impact Goldman or Morgan Stanley, it is a potential disruptive means of reaching potential investors
Member: American Economic Association, Society of Professional Journalists, United States Press Association. Institute of Chartered Financial Analysts, Robotic Industries Association (now A3 Automation), Member IEEE.
The Bot Brief is a weekly newsletter designed for economists, investment specialists, journalists, and academicians. It receives no remuneration from any companies that may from time to time be featured in the brief and its commentaries, analysis, opinions, and research represent the subjective view of Balcones Investment Research, LLC. Due to the complex and rapidly changing nature of the subject matter, the company makes no assurances as to the absolute accuracy of the material presented.