Helios & Matheson's stock nearly doubles after acquiring facial recognition technology licensing rights
Shares of Helios & Matheson Analytics Inc. rocketed 91% toward a 3 1/2-month high in premarket trade Tuesday, after predictive analytics company said it has acquired the licensing rights to IsItYou's facial recognition technology in the field of crime and terrorism. The technology will be integrated with RedZone's navigation app, RedZone Map, which is used for situational awareness to improve safety. "Through artificial intelligence and facial recognition technology, we will seek to develop the capability to identify dangerous people entering an area and notify our users in real time," said RedZone founder Ted Farnsworth. Helios & Matheson's stock had tumbled 26% year to date through Monday, while the S&P 500 had gained 6.9%.
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