Why Veritone Stock Is An AI Company We’re Avoiding

August 13. 2021. 5 mins read

Warren Buffet famously said to invest only in what you know, something that especially rings true in today’s world of ICOs and NFTs. No matter how complex a technology is, the purveyor should be able to explain it simply. The inability to clearly articulate a value proposition is a big red flag, and one company that epitomizes that is Veritone (VERI).

About four years ago, we published a piece titled How Much “AI” is there in the Veritone IPO? About five months later, we asked the question, Are Veritone and ITUS Corp. AI Pump and Dumps? based on the fact that Veritone stock soared +357% in a single month. It turned out to be a pretty timely call as shares cratered not long after, falling from $56 a share to $10 a share in a year’s time. By early 2020, the share price has fallen below $2 a share. Today, shares trade at around $20 a share, which means we’re dealing with an extremely volatile stock.

Our original criticism of Veritone was that they talked a lot about

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