"There is no force on earth more powerful than an idea whose time has come."
- Victor Hugo
Bots in the News:
With only ONE exception, every component of the thirty stock Bot Index, experienced a decline in value last week. The Bot Index fell 5.41% as high valued technology stocks were subject to significant profit taking. Four companies retreated by double digits and fully one third declined in excess of 5%. The sole positive returner for the week was Rockwell Automation, who rose 5.15% on mixed earnings results. Morgan Stanley commented “Rockwell Automation Positioned for Sharp Growth Acceleration Amid Policy Tailwinds” in a report that resulted in the week’s upswing.
The four worst performers included AeroVironment, who fell 12.2%. The stock has been on a strong momentum surge following the effective battlefield use of the company’s drones. The stock is up almost $100 since the beginning of the year so some profit-taking might have been expected.
Two low priced stock – iRobot and 3D Systems both declined by double digits, and the Japanese company OMRON Corp fell 10.15%. Yasakawa Electric, another of the Japanese components, nearly joined the double-digit downers as it fell 9.47%.
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.
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