Tech Stocks to Watch: American Aires Receives BUY Rating

American Aires

Since going public just two short months ago, American Aires Inc. (CSE:WIFI) has continued to dazzle the market and analysts are starting to take notice. 

American Aires is an Ontario-based tech company that has developed a line of devices that can protect consumers and their families from the potentially harmful electromagnetic radiation (EMR) being emitted from smartphones and other data transmitting devices including tablets, smart TVs, laptops, Wi-Fi routers, and baby monitors.

American Aires

American Aires Inc. (CSE:WIFI) has emerged as an analyst favorite this week and has been handed a “BUY” recommendation from TradingView’s technical analysis, which takes into account multiple indicators to give an overall assessment of the stock’s price and direction.

American Aires

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Since November 2019, American Aires Inc. (CSE:WIFI) share price has increased from C$0.28 to a high of C$0.70 on January 10, before dropping down to C$0.53 on the Canadian Securities Exchange.

According to Morningstar, a fair value for the company’s stock would be C$0.71, meaning its currently undervalued and trading at a 25% discount.

American Aires Signs Monumental Distribution Partnership with Best Buy

The positive recommendations for American Aires Inc. (CSE:WIFI) came after the company signed a monumental distribution partnership with leading American multinational consumer electronics retailer Best Buy Co. (NYSE:BBY). 

The agreement will see Aires’ products sold online at bestbuy.ca. Not only that, Best Buy Marketplace will promote the devices to its 5.8 million e-newsletter subscribers and expand visibility via forums, blogs, product reviews. 

“We are excited to see Aires Tech products to become the first of their kind in offering EMF protection to be featured in the Best Buy Marketplace,” said American Aires President and CEO Dimitry Serov. “Our sales target exiting 2020 is 1,000 orders a day. With our Best Buy online Market Place Agreement now signed and operational, we are one step closer to achieving this target.” 

Serov added that later this year the company plans to actively pursue similar agreements in the US, Europe, and Canada.

American Aires Set for 5G Revolution

Another reason there is a lot of buzz surrounding American Aires Inc. (CSE:WIFI) as of late is its strategic position in the 5G market, which is expected to reach $5.53 billion in 2020.

Earlier this month, the company announced that it has completed the design and development of four new key products designed specifically for the emergence of much-anticipated 5G cellular technology.

The products will be available to the public in Q2 2020 from the company’s global e-commerce platform.

Featured Image: American Aires

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