Remark Holdings Inc (NASDAQ: MARK) is having an incredibly strong day in the market today, and for good reason. The company announced that its product has been chosen in a big contract win. Of course, this is leading to excitement among investors, sending the stock screaming for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:29), MARK is trading at $3.68 per share after a gain of $0.73 per share (24.75%) thus far today.
MARK Gains On Contract Win
As mentioned above, Remark Holdings is having an incredibly strong start to the trading session this morning after the company announced that its product has been chosen for a key contract. The company announced that Sina Weibo, one of the world’s largest social media companies, is launching its first augmented-reality enabled mobile application. The application is named SuiShouPai, meaning take a picture anywhere, anytime. More importantly for MARK, the company’s KanKan subsidiary implemented SuiShouPai’s core augmented-reality feature using KanKan’s 3D facial-feature-tracking technology.
With the choice of KanKan’s AI technology, Sina Weibo is using one of the world’s most advanced 3D facial-feature-tracking technologies, ultimately making the best mobile 3D augmented reality possible. The software was developed over the past several years, using millions of globally-sourced facial feature samples. As a result, the technology created by MARK can precisely recognize and track the movements of hundreds of different facial features. With an underlying AI ability to learn human emotions based on facial feature changes, the app will be capable of understanding various facial expressions. In a statement, Kai-Shing Tao, CEO and Chairman at MARK, had the following to offer:
“We not only created a facial tracking system that we believe is far superior to existing technologies, but we also created 3D filters that can be used socially among friends or used to identify business opportunities in various industries, such as in the cosmetic field… Our contract with Sina Weibo continues to demonstrate that we are able to monetize our artificial-intelligence technology, including facial and object recognition”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MARK. In particular, we’re interested in following the story behind this partnership and excited to see the revenue the new app generates for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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