10 Best Small Cap Tech Stocks With Biggest Upside Potential

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1. PowerFleet Inc. (NASDAQ:AIOT)

Number of Hedge Fund Holders: 24

Market Capitalization as of June 20: $601.59 million

Average Upside Potential as of June 20: 98.24%

PowerFleet Inc. (NASDAQ:AIOT) is one of the best small cap tech stocks with biggest upside potential. On June 16, Powerfleet announced an expanded partnership with EverDriven Technologies. EverDriven is increasing its deployment of Powerfleet’s advanced AI video safety solution to enhance student transportation across 34 states.

EverDriven currently has a network of 9,000+ drivers completing more than 2 million trips annually. Due to strong interest from its school district partners, EverDriven will scale its relationship with Powerfleet to ~4,000 subscribers. The CEO of Powerfleet, Steve Towe, highlighted that this growing partnership signifies increasing demand for Powerfleet Unity’s AI-powered safety solutions in North America, which is a top priority market for the company.

The CEO of EverDriven, Mitch Bowling, stated that implementing AI video technology represents an advancement in the company’s safety protocols. Powerfleet Unity’s AI video technology uses ML and computer vision to detect critical events, assess driving behavior, and facilitate real-time interventions.

PowerFleet Inc. (NASDAQ:AIOT) provides Internet-of-Things solutions in the US, Israel, and internationally. EverDriven is a prominent provider of alternative student transportation across the US.

While we acknowledge the potential of AIOT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AIOT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None.

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