Shares of ShiftPixy Inc.
PIXY,
surged 134.9% in premarket trades Thursday, rallying after the stock ended Wednesday’s session down 43.1% on massive trading volume of 1.37 million shares. Thursday’s trading volume was 1,790% higher than ShiftPixy’s 65-day average. It is not immediately apparent what has caused the dramatic movement in ShiftPixy’s stock, which closed at $1.32 on Wednesday. The gig-economy focused workforce management company harnesses AI in its staffing technology. ShiftPixy reported a net loss of $5.8 million in its most recent quarterly results, for the period ending February 28. Last month the Florida-based company launched an investigation into suspicious trading activity in its stock.
