Rezolve AI shares jumped another 27% in premarket trading on Wednesday after soaring 55% on Tuesday.
U.K.-based Rezolve AI Limited’s ($RZLV) stock was soaring more than 18 times its average volume on Tuesday, attracting retail attention.
The stock soared 54.5% on Tuesday..
Tuesday’s rally came amid a lack of any meaningful catalyst.
Rezolve offers a retail and engagement technology solution that acts as an instant tool for mobile devices.
Last Thursday, the company said it is actively participating in initiatives to align with the Department of Government Efficiency (DOGE) set up by the incoming administration under President-elect Donald Trump.
The company said its solutions are well-positioned to support DOGE’s goals. Its tools streamline operations for retailers and optimize staffing by automating routine tasks, allowing human resources to focus on higher-value responsibilities.
Rezolve AI is also striving to participate in the crypto rally by integrating the Tether Wallet Development Kit into its Brain Checkout platform, which will allow cryptocurrency transactions for everyday purchases.
In late November, the company announced strategic reseller partnerships with Microsoft Corp. ($MSFT) and Alphabet, Inc.’s ($GOOGL) ($GOOG) Google for its conversational AI solutions. These tech giants have committed to promoting the company’s AI technologies through their sales channels.
Rezolve AI went public through the Special Purpose Acquisition Company (SPAC) route by merging with the blank-cheque company Armada Acquisition. Its shares were listed on the Nasdaq on Aug. 16.
RZLV sentiment and message volume December 17, 2024, as of 2:14 pm ET | Source: Stocktwits
Sentiment toward Rezolve AI stock turned ‘ extremely bullish’ (81/100) on Stocktwits, improving from the ‘neutral’ mood seen a day ago. The sharp spike in the stock set off retail chatter, which grew to ‘high’ levels.
A Stocktwits platform user said they will hold the stock eyeing a break above $8 level, citing a slew of catalysts.
A message by another user suggests the stock was likely being pumped up.
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