My Size (MYSZ) stock was on the rise Tuesday after the mobile device measurement solutions company announced plans to explore the monetization of its data intelligence assets. The company collects anonymized data from consumers who use its artificial intelligence (AI) to test apparel fits on e-commerce platforms before purchases. Now, it’s looking to offer its insights into sizing, mismatches, and other fashion fit data to brands and retailers.
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My Size said its efforts include evaluating the development of a secure Data Intelligence Framework that will feature usage-based digital access models, such as data credits. With this platform, the company could sell insights into consumer habits while remaining compliant with data protection regulations, including GDPR and CCPA.
Ronen Luzon, CEO of My Size, said, “We believe that aggregated data intelligence can play an increasingly important role in helping the fashion industry reduce inefficiencies and improve decision-making. Our focus is on exploring ways to responsibly unlock the value of these insights while maintaining the highest standards of consumer privacy, security, and regulatory compliance.”
My Size Stock Movement Today
My Size stock was up 18.87% in pre-market trading on Tuesday, following a 14.9% rally yesterday. The stock has also rallied 24.3% year-to-date but was down 63.9% over the past 12 months.
Today’s rally came with increased investor interest in MYSZ stock, as some 800,000 shares changed hands. For comparison, the company’s three-month daily average trading volume is roughly half that at 435,000 units.
Is My Size Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for My Size is Moderate Buy, based on a single Buy rating over the past three months. With that comes an average MYSZ stock price target of $3, representing a potential 218.4% upside for the shares.
