Dividend Stocks

Why Is Better Choice (BTTR) Stock Up 27% Today?

Better Choice (NYSEMKT:BTTR) stock is rising higher on Friday after the company announced the introduction of an AI chatbot.

Better Choice says that it will implement the Re:Amaze AI chatbot on its site to help its customers with purchases. It believes this will assist the company in retaining customers and helping them complete purchases.

Better Choice offers up specialty food for pets. That includes both dog and cat foods under its Halo brand, as well as pet health and wellness products. Among these are treats, toppers, dental products, chews, and supplements.

Michael Young, chairman of Better Choice, said the following about the company’s AI chatbot integration:

“Not only will the AI based chat bot allow us to better serve and retain customers, we believe there will be higher retention rates.”

What to Know About BTTR Stock

News of the company bringing in an AI chatbot to help with sales has BTTR stock seeing heavy trading today. As of this writing, more than 1 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is only about 79,000 shares.

Better Choice was founded in 1986 and operates out of its headquarters in Oldsmar, Florida. The company went public in June 2021 with a $40 million initial public offering (IPO). This saw its shares start trading at $5 each. For comparison, the stock closed out Thursday at 33 cents per share.

BTTR stock is up 27.3% as of Friday morning. However, it’s down 41.7% year-to-date as of Thursday’s close.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.