The ShiftPixy Inc (NASDAQ: PIXY) stock price soared 105.3% despite the lack of news releases from the company in the recent past. The last significant announcement from the company regarded an investigation into suspicious trading activity on its stock leveraging new data and legal framework.
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However, despite not making any official statements, the company that provides staffing services for companies and workers in the gig economy who work in shifts is very active on its Twitter handle, where it posts weekly updates regarding what is happening at the firm.
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The last update from the company was yesterday, where it highlighted the work it does for workers in the gig economy while providing links to its website. The company discussed the benefits that gig workers require, including insurance and workplace protections offered to 9-5 workers.
ShiftPixy prides itself on providing a revolutionary platform connecting gig/shift workers, also known as shifters, to companies looking to hire shift workers. The platform is unique in that, unlike other recruitment firms, it has specialised in gig workers.
There are no clear reasons behind today’s rally in ShiftPixy’s share price other than the renewed investor interest in the company since over 3.39 million PIXY shares had changed hands at the time of writing.
ShiftPixy stock could become the next market darling if more investors keep piling into the stock in the coming days. While the company provides a reliable service, its shares have fallen 93.48% since the year started. Therefore, most investors hope today’s rally will become an extended uptrend.
Many investors hope that the PIXY stock will become a retail investor darling and rally higher for its long-term investors, who have seen the value of their shares fall drastically over the past year.
*This is not investment advice.
ShiftPixy stock price.
The ShiftPixy stock price soared 105.30% premarket to trade at $2.71, from Wednesday’s closing price of $1.32.
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