Photo by Pedro da Silva on Unsplash.
It’s been a big week so far for innovative AI advertising tech company Alfi (NASDAQ: ALF) as shares rocketed upward from a closing price of $3.41 on Monday evening, all the way to a massive high of $8.41 on Wednesday morning. Benzinga recently got to sit down and talk with Alfi’s founder and CEO, Paul Pereira, on Tuesday when the stock was climbing the fastest.
Having reached the number 1 slot in terms of both gains and volume traded of any stock that day on Nasdaq, one might expect Pereira to be popping the champagne, but Pereira was excited to get back to work and drive out to the site where Alfi was installing its innovative tablets for Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) drivers in Miami. Alfi additionally announced that 10,000 tablets will be distributed to major cities across the United States.
The ride-sharing tablets mark a significant and unique step forward for digital out-of-home advertising that is privacy compliant with no cookies or storage of personal data. Using proprietary AI technology, Alfi shows custom ads to riders that are tailored to what they might like and be most interested in. The technology also provides remote, transparent and effective metrics for the company and to its advertising customer that were previously considered impossible.
Alfi is the first tech company founded in Miami to ever go public by IPO on the Nasdaq and is part of a significant group of innovative companies continuing a trend of tech sector and business growth in the Magic City. Overall growth in Miami has also been increasing in the past year as a significant number of people and businesses have moved from states like New York and California to Florida during COVID-19. These trends bode well for the business market in the area for companies like Alfi.
Alfi shows no signs of slowing down its transformation of physical advertising. In commenting on the stock’s massive upward run this week, Pereira reiterated a commitment to current investors, many of whom are retail, saying “We have a strong balance sheet to execute our strategy and to create shareholder value.” Hitting home the sentiment, Pereira stated that “We’ve been given a big bat, and we’re swinging for the fences with the goal of hitting a home run.”
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