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This AI stock surged by 530% since insider bought it

This AI stock surged by 530% since insider bought it
Elmaz Sabovic

Insider knowledge can swiftly turn traders into millionaires, whether it unfolds over hours, days, or months. Yet, ethical concerns arise, mainly when insider trades involve influential industry figures or CEOs of the companies whose shares are being traded.

Despite this, Victor Huang, the CEO of Airship AI (NASDAQ: AISP), purchased $115,000 worth of his company’s stock before the announcement of US government contracts. 

Subsequently, the stock surged by 529%, with an additional 31% gain in the previous trading session alone.

AISP stock YTD price chart. Source: Google Finance
AISP stock YTD price chart. Source: Google Finance

This means that his purchase of $115,000 on January 3, when the stock price was $2.22, is now worth approximately $521,000.

The contract between Airship AI and DOJ

On March 5, Airship AI Holdings revealed that a department within the Department of Justice had awarded them a contract to provide an artificial intelligence-powered video and sensor data management platform.

As part of the deal, the agency will deploy the Acropolis Enterprise Sensor Management platform in a cloud-based setup adhering to the security standards of the Federal Risk and Authorization Management Program. Airship AI stated that the agency can monitor devices and sensors within its digital network via the cloud or the Outpost AI Edge Appliance through Acropolis.

Previous AirshipAI government contracts

The DOJ contract builds upon another recent US government contract awarded to Airship AI last year. In September 2023, the company announced it had secured multiple firm-fixed-price contracts totaling $10.9 million granted by a Department of Homeland Security agency. 

These contracts are centered around providing advanced integrated solutions for real-time intelligence gathering along US borders, leveraging the company’s Outpost AI technology.

AISP stock is worth monitoring, given its government contracts, which have proven lucrative for its investors, including the CEO. The growth potential is promising, and the company is highly likely to secure contracts from other governments in the future.

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