What's Going On With Boxlight Shares Monday?

Boxlight Corporation BOXL shares are moving higher on Monday along with other stocks in the technology sector amid broader market strength.

The Details: Some of Monday’s move may be driven by Microsoft’s announcement to invest approximately $80 billion in AI data center development in 2025, with a focus on training artificial intelligence models and supporting AI and cloud-based applications.

Microsoft’s increased AI investment comes after the late 2022 launch of ChatGPT by OpenAI, driving widespread adoption of AI tools. Notably, more than half of the recently announced $80 billion investment is allocated to the United States.

“We have the opportunity as a country to equip all Americans with the skills needed to use AI to pursue higher-paying jobs and more successful careers. This should be our national north star,” said Brad Smith, vice chair and president of Microsoft.

Microsoft’s focus on developing AI data centers and cloud applications may fuel expansion for other companies in the technology space, including Boxlight. This ongoing AI push could also boost investor confidence in technology stocks more broadly.

Boxlight shares are trading on abnormally-high volume of 192.87 million shares. The company’s average session volume over the past 100 days is about 79,000, per data from Benzinga Pro.

Boxlight has a total flat about of about 9.26 million shares. The company also had a market cap of less than $5 million as of Friday’s close. Low-float, micro-cap stocks can be extremely volatile, which may help explain some of Monday's massive move.

It’s also worth noting that Boxlight shares are trending across social platforms including Stocktwits. The stock has been halted for volatility multiple times during Monday’s trading session.

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BOXL Price Action: At the time of writing, Boxlight shares were up 287% at $1.77, according to data from Benzinga Pro.

Image: 5771541 from Pixabay.