Ameri Holdings Inc (NASDAQ: AMRH) is having an incredibly strong start to the trading session this morning, gaining in multiples rather than percentages. The gains are coming for good reason. The company announced a partnership, bringing machine learning into its products. Today, we’ll talk about:
- The partnership;
- what we’re seeing from the stock as a result;
- and what we’ll be watching for ahead.
AMRH Announces Machine Learning Partnership
As mentioned above, Ameri Holdings is having an incredibly strong start to the trading session this morning after the company announced that it has entered into a partnership. In a press release issued early this morning, the company announced a partnership with the machine learning (ML) company, Bayestree Intelligence Inc.
In the release, AMRH said that as a result of this partnership, Amei100 will deliver a paradigm shift in service management workflow process. This will be done through the application of machine learning techniques that infuse and embed intelligence at every level of the service and delivery process. The system will also automate repetitive service desk processes and generate cost savings across service delivery. In a statement, Brent Kelton, CEO at Ameri100, an AMRH company, had the following to offer:
Our partnership with Bayestree will extend Ameri100’s capabilities in support of digital and cloud sales opportunities at the center of enterprises’ business transformations… At a time when SAP is investing in machine learning to simplify enterprises’ transitions to the cloud with S/4 HANA, our ability to use machine learning as an engine to drive enterprises’ digital transformation aligns us with the needs of our clients and is very complimentary to SAP’s products.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In this particular case, the news proved to be overwhelmingly positive. After all, with Ameri Holdings adding Machine Learning to its products, chances are that revenue will grow in a big way while costs are reduced. So, it’s no surprise to see that the investors are excited, sending the stock screaming for the top. Of course our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:04), AMRH is trading at $2.42 per share after a gain of $1.61 per share or 200.58% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AMRH. In particular, we’re interested in following the integration of machine learning into the company’s products. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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