Remark Hldgs Inc Stock Price, News & Analysis

Remark Holdings, Inc. (NASDAQ: MARK) has been designated a Silver Partner by Hewlett Packard Enterprise (HPE) following extensive software testing on HPE platforms. This partnership will facilitate the joint marketing of AI solutions in sectors such as retail management, security, and health security. CEO Kai-Shing Tao emphasized the scalability of their computer vision technology when paired with HPE's advanced infrastructure. Remark plans to leverage this partnership to broaden its market reach, with expectations for additional sales channel partnerships in the near future.

Remark Holdings, Inc. (NASDAQ: MARK) announced the adjournment of its special shareholder meeting to February 23, 2021, at 1:00 p.m. ET. This decision was made to provide additional time to solicit votes necessary to achieve a quorum. The new record date for determining stockholders eligible to vote has been set to January 7, 2021, following the original record date of August 31, 2020. Stockholders who voted previously and do not wish to change their votes need take no action, while those who wish to alter their vote must follow instructions on the new proxy card.

Remark Holdings (NASDAQ: MARK) reported an expected fourth-quarter revenue of at least $4.7 million, raising total revenue for fiscal year 2020 to over $10.0 million, a 100% increase from $5.0 million in 2019. The Board also authorized a $30.0 million stock repurchase program, reflecting confidence in the company's future. Remark is focusing on enhancing its AI solutions across retail, banking, and education markets, with ongoing projects in China and other regions.

Remark Holdings, Inc. (NASDAQ: MARK) announced that a major Chinese bank selected its KanKan AI to enhance 169 branches in Yunnan Province. The Smart Customer Retail Platform aims to streamline operations, boost user experience, and foster customer loyalty. The initiative targets a $22 billion market, with a potential annual upgrade of 20,000 bank branches. Remark's platform will facilitate direct online purchases through a secure e-commerce interface. Following initial success, KanKan AI plans to implement its solutions in four additional major banks across 30 provinces, estimating a market of $360 million.

Remark Holdings, Inc. (NASDAQ: MARK) announced the adjournment of its special shareholder meeting to January 13, 2021, at 1:00 p.m. ET. The decision was made to allow additional time to gather votes necessary to achieve a quorum and conduct required business. Remark Holdings is known for its AI solutions and digital media properties, aimed at delivering integrated technology for various sectors including retail and public safety.

Remark Holdings (NASDAQ: MARK) unveiled its new AI-based edge computing systems, the S and T Series Smart Boxes, integrating NVIDIA's advanced edge computing modules. These Smart Boxes enhance real-time AI processing capabilities in various sectors, including retail, education, food services, and energy. Notable features include simultaneous processing of up to eight video streams and support for critical AI functions like facial and vehicle recognition. The launch positions KanKan AI competitively, opening doors for new contracts and revenue streams.

Remark Holdings (NASDAQ: MARK) announced the installation of its Smart Customer Retail Platform by major Chinese banks, including the Bank of China. This platform is positioned as a central hub for marketing and sales, with an initial revenue generation of approximately $1.5 million expected in Q4. The project taps into a $2 billion annual upgrade opportunity, with plans for further sales to 500 additional branches following initial success. The technology enhances customer interactions through personalized AI services, allowing banks to effectively market products and conduct transactions.

Remark Holdings, Inc. (NASDAQ: MARK) reported a 285% increase in revenue to $2.6 million for Q3 2020, primarily driven by a recovery in China post-COVID-19 lockdowns. The company achieved a net income of $4.4 million, or $0.04 per share, a significant turnaround from a net loss of ($4.9 million) in the same quarter last year. Key business highlights included delivery of smart kiosks to 200 China Mobile stores and ongoing projects with major banks. Remark anticipates continued revenue growth in Q4 2020 and beyond.

Remark Holdings, Inc. (NASDAQ: MARK) has announced the adjournment of its special shareholder meeting, now scheduled for December 16, 2020, at 1:00 p.m. ET. This decision was made to allow additional time for soliciting votes to reach a quorum. The company specializes in artificial intelligence solutions and owns various digital media properties. Remark Holdings aims to provide businesses with tools to resolve issues and enhance outcomes across sectors such as retail and public safety. The meeting's postponement signifies the importance of achieving adequate shareholder engagement.