LightOn share rises 19% following historic low on back of new announcement
The Paris-based generative AI model editor's share price touched a new absolute low during trading before rebounding sharply. This movement occurs on the day the company unveils an offering that brings together two of its products.
An 18.81% rebound after a new historic low at €2.04
The LightOn share hit its lowest ever level during trading at €2.04, compared to €2.08 on October 12. It subsequently quoted at €2.49, representing an 18.81% gain from the previous day's close (€2.10), a rebound that leaves the price far from its moving averages: the 20-day MA (€2.92) is 14.55% above it, the 200-day MA (€4.77) at a significant distance. The RSI at 15 describes the seller exhaustion of a security that has lost nearly 58% in three months and nearly 67% over a year.
The weekly decline remains at 4% despite today's rebound. The support level at €2.10 was breached during trading before the price reclaimed it, while resistance stands at €3.91.
LightOn Suite and the Scaleway API: October 13 announcements
In a press release published on October 13, the editor listed on Euronext Growth brought together two products within a single offering, LightOn Suite. It presents this as a response to the dispersion of documentary data, which it describes as one of the main causes of failure in scaling AI projects in enterprises. Scaleway has also become the first infrastructure provider to offer the LightOnOCR-3 model in the form of a managed API.
This model had been unveiled on October 8, along with a family of documentary models that LightOn ranks at the top of three benchmarks. The group published its first-half results on September 29: revenue up 51%, operating result stable at -€3.9m.
