The Ai-Media Technologies Ltd (ASX: AIM) share price is falling today amid news relating to its captioning service.
Shares in the company are currently trading at 68 cents, down 3.13%.
Ai-Media provides captioning, transcription, and translation services to companies around the world using a cloud-based technology platform.
Let’s take a look at what may be weighing on the Ai-Media share price today.
Djokovic leak controversy
Investors could be reacting to news that Ai-Media is investigating whether a staffer leaked a private conversation between Seven Network Holdings Ltd (ASX: SVW) newsreaders about the World No. 1-ranked tennis star, Novak Djokovic, The Australian has reported.
Ai-Media and Seven held high-level discussions about the matter on Wednesday night, the publication said.
In the footage, which has been going viral on social media, newsreader Rebecca Maddern comments:
Whatever way you look at it Novak Djokovic is a lying, sneaky… it’s unfortunate that everybody else stuffed up around him. To go out when you know you are COVID-19 positive…
Djokovic has been dominating the news in recent days after his controversial entry into Australia to play in the Australian Open.
The Federal Immigration Minister, Alex Hawke, is considering whether to use his veto rights to cancel Djokovic’s visa. A decision is expected today, according to a News Corp report.
My Foolish colleague James noted Ai-Media is a growing small-cap share to watch this week. Broker Bell Potter has a buy rating on the company and a $1.50 target for the Ai-Media share price.
Ai-Media share price snapshot
The Ai-Media share price has fallen by 27.66% in the past 12 months. It is down 5.56% over the past 4 weeks.
In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned nearly 12% in the past year.
Ai-Media has a market capitalisation of about $145 million based on the current share price.
The post Ai-Media (ASX:AIM) share price slides amid Novak Djokovic leak saga appeared first on The Motley Fool Australia.
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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