We recently examined the top 10 AI penny stocks under $1, including LivePerson, Inc. (NASDAQ:LPSN). The stock market has seen a rise in artificial intelligence trends as businesses integrate AI technologies to enhance performance and cut costs. The global AI industry is expected to reach $196.63 billion by 2023, with a projected growth rate of 36.6% from 2024 to 2030.
OpenAI, a leading AI startup, has made significant strides in the market, with its valuation reaching $80 billion following collaborations with Thrive Capital. The company’s advanced AI models like ChatGPT and DALL-E have gained widespread recognition. OpenAI’s approach involves partnering with tech giants to advance AI technology.
In our analysis, we used a stock screener to identify AI stocks under $1 with high trading volumes and hedge fund investments. LivePerson, Inc. (NASDAQ:LPSN) has 11 hedge fund investors. The company recently reported a decline in revenue, leading to a negative growth rate. Despite this, there is potential for growth, as evidenced by a recent surge in stock returns.
Lynrock Lake is the largest stakeholder in LivePerson, Inc., holding 145.96 million shares. The company’s declining EPS suggests current unprofitability, but investors are optimistic about future earnings. LivePerson, Inc. ranks 2nd on our list of popular AI penny stocks under $1.
While LivePerson, Inc. shows promise as an investment, we believe that AI stocks offer better returns in a shorter timeframe. For investors seeking AI stocks with potential, we recommend exploring other options in the market.