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Home 🌿 Cannabis Technology News 🌿 Artificial intelligence can now predict cannabis stock prices 🌿Artificial intelligence can now predict cannabis stock prices
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Stock market forecast software maker VantagePoint, which claims its platform can make predictions with up to 86 percent accuracy three days in advance, has added the cannabis sector to those in which its clients can trade.
VantagePoint put out a statement on Friday announcing that traders will be able to use its platform to forecast cannabis stocks beginning this week. It is the thirteenth market sector which VantagePoint will allow its users to add to their portfolios and includes cannabis stocks in both the U.S. and Canada.
“Cannabis stocks, like stocks in other sectors, are driven and impacted by other related stocks and markets both within the US and around the world. By analyzing these complex market relationships using artificial intelligence, patterns in data can be detected and then used to make highly accurate short-term forecasts with up to 86 percent documented accuracy,” says VantagePoint in the statement.
The company’s research and development team, which is tasked with constantly improving and training the artificial intelligence indicators to provide the most accurate forecasts possible, explores market sectors first. They don’t release stocks to their customers, however, until they are confident they have reached “reached the most optimal level of predictive accuracy possible.”
Lane Mendelsohn, VantagePoint President and 2nd Generation Software Developer, said on Friday "It wasn't too long ago, just this past December actually, that we began forecasting for cryptocurrencies. We are always on the lookout for new stocks and sectors to add to the software, and so we are really excited to make our cannabis sector available to customers next week,"
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