The U.S.-listed shares of VCI Global Limited (VCIG) are on the move today, up 86% at today’s intraday peak of $0.1365 on unusually heavy volume of more than 260 million shares.
VCIG has since pared its gains to pull back below $0.10, which has become a technical sticking point for the penny stock. At last check, VCI Global stock is up about 12% intraday, reversing sharply from its morning highs.
The company said earlier that its V-Gallant subsidiary won an artificial intelligence (AI) contract worth $16 million, which sparked today’s breakout. For perspective, Malaysia-based VCIG has a market capitalization of approximately $11.63 million, and the stock is down about 95% on a year-to-date basis.
There are no analysts in coverage at the moment, and VCIG is likely best-suited for only those AI speculators with the highest of risk tolerances. For investors in search of slightly more conservative investment ideas set to benefit from AI, analysts like these top picks in the power generation industry.
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