Alfi Stock Increases Over 30%: Why It Happened

By Amit Chowdhry ● Jul 7, 2021
  • The stock price of Alfi Inc (NASDAQ: ALF) increased by over 30% during intraday trading. This is why it happened.

The stock price of Alfi Inc (NASDAQ: ALF) – an AI enterprise SaaS platform company powering computer vision with machine learning models to allow content publishers and brand owners to deliver interactive, intelligent information without violating user privacy – increased by over 30% during intraday trading, going from a previous close of $13.61 to a day high of $17.95 as of 12:20 PM ET. Investors are responding positively to Alfi announcing it will commence installations of Alfi tablets in vehicles operated by Uber and Lyft drivers operating in the Orlando and Tampa areas.

This continued roll-out to new locations beyond the Miami area expands on the successful partnership Alfi started to develop with independently contracted Uber and Lyft drivers, providing them with an additional revenue stream while enhancing the passenger experience. And in anticipation of its planned roll-out to a total of 10 major cities, Alfi has placed an order for an additional 10,000 Lenovo digital tablets.

Alfi essentially creates relevant and interactive digital out-of-home (DOOH) advertising experiences, delivering the content to the end-user ethically and respectfully while offering DOOH advertisers a never-before-seen precision in DOOH targeting.

With Alfi’s technology, advertising customers gain powerful reach, dynamic visuals, and tailored message capability by age, gender, geography, customer emotion, brand behavior and interests all in real-time. And Alfi’s computer vision can change and run ads remotely to deliver the right content, to the right person at the right time in an ethical, respectful, responsible, and privacy-compliant manner.

KEY QUOTES:

“Our expansion into the Orlando and Tampa markets is the next step towards reaching new drivers, riders and advertisers, and we fully expect to match the success we saw in the Miami roll-out. Our SaaS platform for digital advertising creates a real and differentiated value proposition enabling advertisers to realize better performance with more targeted content, while rideshare operators gain a potentially significant revenue stream, and passengers’ experiences are vastly improved when they receive in-ride content that is relevant to them, while respecting their privacy. With 10,000 additional screens on order, our team is actively preparing for roll-outs into nine other cities in 2021.”

— Ron Spears, CRO of Alfi

“We have great respect for our rideshare drivers who are hardworking people trying to make a living. Alfi allows them to earn extra income with our revenue share program by doing nothing else but drive their cars. Our relationships are directly with each rideshare driver, and while we do not have any direct relationship with Uber, Lyft, or any of the rideshare companies at present, we would welcome the opportunity to partner with them in a way that would be a win/win for all. There are over three million rideshare drivers in the U.S. and Alfi is going to help those we can reach by providing free tablets, free installation, and revenue sharing opportunities.”

— Paul Pereira, Alfi CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.