Xiao-I (NASDAQ:AIXI) Shares Gap Down – Here’s Why

Xiao-I Co. (NASDAQ:AIXI)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $7.97, but opened at $6.91. Xiao-I shares last traded at $7.09, with a volume of 90,373 shares traded.

Xiao-I Stock Performance

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Xiao-I stock. Murchinson Ltd. bought a new stake in shares of Xiao-I Co. (NASDAQ:AIXI) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 38,388 shares of the company’s stock, valued at approximately $69,000. Murchinson Ltd. owned about 0.05% of Xiao-I at the end of the most recent reporting period. 3.99% of the stock is owned by hedge funds and other institutional investors.

Xiao-I Company Profile

Xiao-I Corporation, through its subsidiary, Shanghai Xiao-i Robot Technology Co, Ltd., provides software services in the People’s Republic of China. It offers conversational AI platform that uses deep learning, data enhancement, active learning technologies for dialog management, context processing mechanisms, and driven by a learning system; knowledge fusion platform which integrates Q&A, documents, multimedia, information forms, business processes, knowledge graphs, and multimodal; intelligence voice platform to enhance intelligent speech solutions, realizing the macro processes of intelligent IVP, intelligent outbound calls, speech analysis, agent assistance, and human-computer interaction; and hyperautomation platform that integrates technologies, such as OCR, NLP, and visualized data mining and analysis that enables users to realize business and process automation.