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The Bot Brief

POSTED 07/03/2023

"There is no force on earth more powerful than an idea whose time has come."     

- Victor Hugo


Bots in The News:Bot Index vs. S & P 500

Good microeconomic news was the catalyst for the three Bot Index companies who enjoyed double digit increases last week. In fact, there were eight stocks whose investors cheered gains exceeding 6%. The Bot Index held only two stocks that experienced declines out of its thirty components. This led to the Index’ recording a 4.165% improvement as compared with the S & P 500, whose return was 2.347%.

The best performance for the week was recorded by NIO Inc., the Chinese electric vehicle company. Its nearly 15% jump was based upon reports of its auto deliveries. NIO was the sole double-digit decliner with a 10.32% slide in the prior week despite a report that Abu Dhabi indicated that it was taking a 7% interest in the company through a $740.5 million capital infusion. This week, however, the automaker followed Tesla’s announced 83% increase in April-June quarter’s new car deliveries and consequential impact upon its stock price. NIO reported 23,520 vehicles sold, which was above expectations. The combination of two good news items led investors to increase exposure to the company.

AeroVironment Corp. was the second leading performer, experiencing a 12.53% jump. The company benefitted from the current consensus from AeroVironment's six analysts for revenues of US$664m in 2024. This would reflect a major 23% increase on its sales over the past 12 months. Forecasts of earnings were boosted to a profit of US$2.54 per share this year. Before this latest update, the analysts had been forecasting revenues of US$599m and earnings per share (EPS) of US$0.99 in 2024. The increased consensus estimates were in spite of the company not making the cut for a future military contract that the Bot Brief earlier reported.

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3D Systems was the third double digit gainer with an 11.19% recovery from prior weakness. Investors appraised the opportunities from its impending acquisition of rival Stratasys and boosted the expectations for the combination.

Other gainers took advantage of the improving market and, due to their low prices, experienced good percentage movements. They included: Oceaneering International (+9.16%), Faro Corp. (+8.29%), Immersion Corp. (+6.331%) and Accuray Inc. (+6.03%).

2020's Decade of Bot Index Performance  












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.