The company said in a statement on Thursday that its SemiCab AI tools can increase freight volumes by 300% to 400% without increasing personnel.
- The tool is challenging legacy systems that are reliant on human intervention.
- Shares of several logistics companies fell on Thursday after the news.
- Retail chatter on Stocktwits around RIME shares jumped a whopping 4,150% in the past 24 hours.
Shares of Algorhythm Holdings Inc. (RIME) more than tripled on Friday, rising by over 232%, shortly after the company announced that its SemiCab artificial intelligence platform can scale freight volumes much higher than traditional brokers.
The company, which previously developed in-car karaoke systems before pivoting to its AI freight platform, said in a statement on Thursday that its SemiCab AI tools can increase freight volumes by 300% to 400% without increasing personnel.
Meanwhile, retail chatter on Stocktwits around RIME shares jumped a whopping 4,150% in the past 24 hours, with many users debating a potential buyout.
SemiCab Advantage
Algorhythm’s SemiCab platform uses AI to coordinate freight as a network, reducing “empty freight miles” by more than 70%, according to the company. It addresses a core industry problem where vehicles run empty nearly one-third of the time, wasting over $1 trillion annually, it said.
CEO Ajesh Kapoor said the network-based model fundamentally improves logistics utilization and economics. SemiCab’s Collaborative Transportation Platform automates planning and execution, enabling operators to manage over 2,000 loads annually versus the traditional benchmark of ~500, a fourfold productivity gain.
The company said that the system reduces manual workflows, speeds onboarding, improves service consistency, and lowers marginal costs as volume grows. The tool is challenging legacy systems that are reliant on human intervention.
Shares of several logistics companies fell on Thursday after the news.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around RIME shares remained in the ‘extremely bullish’ territory over the past 24 hours amid ‘extremely high’ message volumes.
One user said if the company’s performance kept up, SemiCab would be on the buyout radar, if it wasn’t already, with many suitors attracted to the cheap shares.
Another user opined that the company’s share price would go down, before the company would be acquired.
A third user called the company’s technology ‘disruptive’, which was too big not to move its shares past $5. RIME shares closed at $3.60 on Friday.
One bullish user noted how SemiCab had disrupted a trillion-dollar industry and forecast a share price of $20.
Shares of RIME have gained more than 29% in the past year.
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