Remark Holdings, Inc. (NASDAQ:MARK)
Shares of Remark Holdings, Inc. (NASDAQ:MARK) gained 5.98% as investors reacted to the company’s 3D augmented reality product being selected as the core technology behind Sina Weibo new mobile application. Developed by the company’s wholly-owned subsidiary, KanKan, the 3D facial tracking technology can track and recognize movements of various facial features.
Sina Weibo Collaboration
According to the company’s Chief Executive Officer, Kai-Shing Tao, integration of the technology in Sina Weibo app, SuishouPai app, demonstrates the company’s ability to monetize its technologies. The use of the facial recognition technology should also help Remark Holdings better understand various facial expression which could lead to further improvements in the AI technology.
“We not only created a facial tracking system that we believe is far superior to existing technologies, but we also created 3D filters that can be used socially among friends or used to identify business opportunities in various industries, such as in the cosmetics field,” Tao in a statement.
Some observers believe that the value of the Sina Weibo deal has yet to be fully factored into the stock price of Remark Holdings, Inc. (NASDAQ:MARK). The share price has struggled to break through the $3 -$4.50 trading range despite the value of the assets that the company owns.
The stock is currently rated as a ‘strong buy’ by one analyst firm according to data compiled by Zacks Investment Research.
KanKan AI Prospects
KanKan has inked lucrative deals with tech giants Alibaba Group Holding Ltd (NYSE:BABA), Tencent Holdings Ltd (OTCMKTS:TCEHY) and Sina Weibo, something that could have catapulted the stock up the charts. However, that has not been the case. The management has already indicated that the recently announced deals have the potential to take the company’s artificial revenue from zero as of the start of the year, to $20 million as of next year.
The expected revenue could be much higher as tech giants continue to come up with unique ways of integrating artificial intelligence into their operations and products. The Remark Holdings subsidiary could continue to elicit interest given the investment it has made on the emerging technological spectacle.
“Artificial intelligence is the most exciting and disruptive force in technology today. It has the power to rapidly change business fundamentals. Remark’s AI technology platforms are on the forefront,” said Tao.
A further testament to Remark Holdings, Inc. (NASDAQ:MARK) credibility on AI is the naming of KanKan latest product, Heterogeneous Multi-Intelligence System, among the top three in Alibaba’s ‘Best AI Products’.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.