We're adding a stock to our venture list this week which combines the best of artificial intelligence and electricity. We have been following the company since December, and it has surpassed our expectations, demonstrating the kind of spectacular returns stock pickers can occasionally find in European small caps.
While still a relatively small Italian company, this is a business which is changing the way power is managed in its corner of Italy. It is focused on using AI to help customers identify inefficiencies in their use of electricity. It is also very wedded to the idea of collaborating with other companies and tech developers to improve its services.
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When this Italian stock first cropped up on our radar, we already liked the look of its robust fiscal metrics, but it is now partnering with institutions like regional banks in Italy to help out with its distribution efforts.
Importantly, since we first looked at the stock, the share price in Milan has risen from €6.24 to peak at €11.35 last month. A drop in the share price in April is, we feel, creating a buying opportunity.
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