Industry-leading artificial intelligence and data intelligence firm Fobi AI Inc. (TSX.V: FOBI)(OTCQB:FOBIF) may well be a company worth tracking at this point. Yesterday, the stock went up reporting a 298% Y-O-Y rise in revenue in the third fiscal quarter that ended on March 31, 2023.

Trading Activity

The stock went up 8.27% in the US market and soared 9.21% in the Canadian market on above-average volume. The stock is trading above its 20-Day and 200-Day SMA of $0.39 and $0.40 respectively.

Rob Anson, the CEO, spoke about the company’s performance during the quarter. He noted that he was proud of the work that had been put in by the team at the company, who had managed to maintain their focus as they battled through their efforts to execute the strategy. Anson also noted that Fobi was experiencing considerable momentum and growth given the fact that its products were scalable, customizable, and agile. These factors made its solutions the ideal ones for businesses in all industries and of all sizes.

He went on to add that the company had experienced significant demand for its products and services at a time when Fobi had been working on digital transformation and automation for the purpose of helping businesses with their growth.

Due to the relevance, demand and utility of the company’s product stack, Anson believed that Fobi was going to continue on its growth trajectory and may be able to close out the fourth fiscal quarter with a record performance. Fobi had been founded in Vancouver in Canada back in 2007 and is one of the biggest players in its industry at this point in time.