The use of AI investing models in making stock market predictions has been gaining popularity in recent years. One such model, the iFi AI model powered by IBM’s Watsonx, has been projecting big upside for bitcoin miner Marathon Digital. Despite the stock being down 0.3% month to date, the AI model sees a potential return of more than 54% in the next 30 days, making it the largest among stocks in iFi AI’s top confidence category with at least $1 billion in market cap.
Apart from Marathon Digital, the iFi AI model has identified other top picks with significant upside potential. Lucid Group, an electric vehicle company, and Carvana, an online auto dealer stock, are among the volatile car-related stocks following Marathon on the list. Despite trending lower, Lucid Group still holds a market cap of more than $5 billion and has reported substantial cash and cash equivalents. On the other hand, Carvana has seen a 3.1% increase for the month and about 95% for the year.
Homebuilder Meritage Homes and cybersecurity company Palo Alto Networks are also included in the iFi AI model’s projections. Despite Palo Alto’s 29% upside being below other names, it is actually iFi AI’s top pick as of the latest data. The CEO of iFi AI, Ron Insana, has emphasized the importance of utilizing AI models in making informed investment decisions in the ever-changing stock market landscape.
AI investing models like the iFi AI model powered by IBM’s Watsonx have provided valuable insights and predictions for investors in the stock market. By analyzing a variety of inputs including fundamental data, technical analysis, and company news, these AI models offer a data-driven approach to decision-making. As technology continues to advance, the integration of AI into the financial sector is likely to play a significant role in shaping the future of investing. Investors who leverage the power of AI models may gain a competitive edge in navigating the complexities of the stock market and achieving optimal returns on their investments.