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    Home»Investment»These stocks are an AI model’s biggest upside picks after a week of mild economic data
    Investment

    These stocks are an AI model’s biggest upside picks after a week of mild economic data

    By Staff WriterJune 16, 20242 Mins Read
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    It turns that AI investing models can be a little patient. The iFi AI model, powered by IBM’s Watsonx, was still projecting big upside for bitcoin miner Marathon Digital as of Friday morning. The stock was also near the top of iFi AI’s projections for 30-day returns on screens earlier in June. The stock is down 0.3% month to date. The AI model uses a variety of inputs, including fundamental data, technical analysis and company news, to make its predictions. It is possible that the iFi AI program sees some looming catalyst for Marathon that hasn’t hit yet. The model sees more than 54% return in the next 30 days for the stock, which is the largest among the stocks in IFi AI’s top confidence category with at least $1 billion in market cap. Here are some of the model’s biggest upside plays after a week of downward-trending inflation data and sliding Treasury yields. Two volatile car-related stocks follow Marathon on the list. Lucid Group , an electric vehicle company, has trended steadily lower since last summer and is now below $3 per share. However, it still has a market cap of more than $5 billion and reported more than $2 billion in cash and cash equivalents at the end of the first quarter. Carvana is another holdover from a recent iFi AI screen, and may indicate that last week’s economic data didn’t cause huge changes in the model. The online auto dealer stock is up 3.1% for the month and about 95% for the year. The top five is rounded out by homebuilder Meritage Homes and cybersecurity company Palo Alto Networks . Even though Palo Alto’s 29% upside is below other names, the stock is actually iFi AI’s top pick, as of Friday morning. Shares of the company are up about 8% year to date. Ron Insana, CNBC senior analyst and commentator, is the CEO of iFi AI, which launched in March .

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