MEDIROM Healthcare Technologies (MRM) stock rocketed higher on Friday after the Japanese healthcare company announced it will double the number of Orbs in its locations. Orbs are human identification systems created by World, which was co-founded by OpenAI’s Sam Altman and Tools for Humanity CEO Alex Blania. The Orbs use World ID to determine the “humanness” of people in a growing world of AI.
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MEDIROM Healthcare Technologies said that it is close to finishing its installation of Orbs at 100 of its Re.Ra.Ku relaxation studios. The company said it will double this number, installing Orbs at 200 of its facilities. It’s worth noting that the company has more than 300 relaxation studios in Japan. This makes MEDIROM Healthcare Technologies the company with the largest Orb installation in the country.
MEDIROM Healthcare Technologies Stock Movement Today
MEDIROM Healthcare Technologies stock was up 219.31% in pre-market trading on Friday, following a 7.05% fall yesterday. The shares have increased 40.78% year-to-date but were down 51.99% over the past 12 months.
With today’s news came heavy trading of MEDIROM Healthcare Technologies stock, as more than 18 million shares changed hands, compared to a three-month daily average of about 1.21 million units.
Is MEDIROM Healthcare Technologies Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of MEDIROM Healthcare Technologies is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates MRM stock a Neutral (55) with a $1.50 price target. It cites “strong revenue growth overshadowed by significant financial risks, including high leverage and liquidity challenges” as reasons for this stance.
