Stem (NYSE:STEM) Stock Attempts To Rebound: Is it Sustainable?
3:47 pm Tuesday, June 15th, 2021
Artificial intelligence has grown as a sector at a remarkable pace over the past few years and nowadays, investors are increasingly interested in a range of artificial-enabled businesses.
One of the more intriguing companies in this space at this point is the artificial intelligence-powered energy storage firm Stem (NYSE:STEM). Over the course of the past months, the Stem stock has emerged as one of the biggest gainers in the market and it could be a good idea for investors to consider taking a closer look at it. Since May 13 this year, the stock has managed to deliver gains of as much as 102%.
However, one of the things that need to be mentioned with regards to the Stem stock is the fact that the company went public through a SPAC (special purpose acquisition company) merger, and in recent times, many of those stocks have been quite volatile.
For instance, space flight company Virgin Galactic saw its stock soar earlier this month but corrected soon after. That being said, it is also important to keep in mind that Stem is involved in a business that could have considerable long-term upside and that is ultimately something that can attract investors in droves.
Stem’s artificial intelligence technology helps in directing energy resources where the energy can be used in the most efficient way. There are many artificial intelligence-enabled companies at this point but not many of those companies are involved in businesses that appear viable.
That is not the case with Stem and the task of energy management is only expected to become more and more important in the coming years. Its artificial intelligence technology has proven to be effective and reliable as well, which is another reason why there are many investors who remain bullish about the Stem stock. If you are currently looking into the possibility of investing in an artificial intelligence-enabled business then you might consider keeping the Stem stock on your watch list.
