This Is Why Brand Engagement Network Stock (BNAI) Rocketed Today

Brand Engagement Network (BNAI) stock was on the rise again Monday after the artificial intelligence (AI) company caught the interest of retail traders. Increased trading activity has been ongoing for BNAI stock after the company announced the finalization of a strategic partnership with Valio Technologies last week.

This agreement will have Brand Engagement Network establish an exclusive AI licensing framework for government and commercial markets across Africa. This includes a memorandum of understanding with Nelson Mandela University for a “regulated, institution-approved pilot deployment of artificial intelligence designed to enhance student wellbeing.”

Retail traders appear to have taken notice of this deal in early morning trading on Monday, resulting in heightened trading activity today. As of this writing, more than 3.9 million shares have changed hands. While this is still below the company’s three-month daily average of 14.26 million units, investors will note that this movement came before the opening bell today. Additionally, the stock saw some 44 million shares change hands on Friday.

Brand Engagement Network Stock Movement Today

Brand Engagement Network stock was up 241.08% in pre-market trading on Monday, following a 90.3% rally on Friday. The shares have increased 610.34% year-to-date and 244.84% over the past 12 months. Investors will also note that the stock has rallied 171.95% over the past five days.

Is Brand Engagement Network Stock a Buy, Sell, or Hold?

Turning to Wall Street, analyst coverage of Brand Engagement Network stock is limited. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates BNAI stock a Neutral (48) with a $16.50 price target. It cites “very weak financial performance (large losses, negative margins, and ongoing cash burn with leverage that is high relative to profitability)” as reasons for this stance.

See what else Spark has to say about BNAI stock