Alfi (ALF) Stock More Than Doubled: What’s The Buzz?

Alfi Inc (NASDAQ: ALF) has shown a high jump squint here as the stock pushed past 104% yesterday. It closed at $6.97, while there was a 4.73% jump in after-hours as ALF remained at $7.30. Looking at its 5-day run, when the stock started on June 9, the price was visibly low at $3.27, while it had 72K share volume. Remaining at almost the same price vicinity, some movement came on June 15, when the price jumped to $5.17.

Now ALF is close to $7. The stock is gaining momentum on its deal for tablet supply for Lyft and Uber drivers. The company has engaged Miami-based distribution and fulfillment center to roll out as many as 10,000 digital tablets for drivers across the nation.

These tablets are models based on machine learning. They enable content publishers to deliver information without having to compromise user privacy.

As a result of the news, ALF shares are trading what investors popularly call the pennant pattern.