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Insider trade alert: AI stock surges 330% in 3 days

Insider trade alert: AI stock surges 330% in 3 days
Elmaz Sabovic

Government contracts can be a significant catalyst for a company, providing resources and connections that propel it to new heights. Airship AI (NASDAQ: AISP) is a prime example of the lucrative opportunities for government-related businesses.

Airship AI’s stock soared by 330% in the last five trading sessions following the announcement of a contract agreement with an agency under the United States Department of Justice (DOJ).

AISP stock price chart. Source: TradingView
AISP stock price chart. Source: TradingView

However, behind this announcement lies the reality of insider trading, as noted by Quiver Quantitative on January 3.

Specifically, the CEO of Airship AI purchased $115,000 worth of AISP stock when it was priced at $2.22. Since then, Airship AI’s stock has surged by 211%, raising suspicions about whether he had prior knowledge of the upcoming contract months before it was made public.

Details of DOJ and Airship AI contract

Airship AI Holdings announced on March 5 that a department within the Department of Justice had granted the company a contract to supply an artificial intelligence-driven video and sensor data management platform.

Under the agreement, the agency will implement the Acropolis Enterprise Sensor Management platform in a cloud-based environment that meets the security standards of the Federal Risk and Authorization Management Program. Through Acropolis, the agency will be able to oversee devices and sensors within its digital network via the cloud or the Outpost AI Edge Appliance, as stated by Airship AI.

The exact worth of the contract is yet to be disclosed.

Other Airship AI’s customers 

As per its website, Airship AI serves a diverse clientele, including prominent government agencies such as the U.S. Department of Homeland Security and the U.S. Department of Justice. Additionally, the company extends its services beyond law enforcement and intelligence sectors, catering to commercial giants like Home Depot (NYSE: HD) and FedEx (NYSE: FDX).

The recent contract and Airship AI’s track record of collaboration with various U.S. government departments suggest a strong likelihood of future government contracts. This potential could have a positive impact on the company’s stock.

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