ShiftPixy (NASDAQ: PIXY) stock saw a significant surge on Tuesday with heavy trading activity. Over 7 million shares of PIXY stock were in motion, well above the daily average of 762,000 shares. The company’s float stands at 2 million units.
Interestingly, this surge in activity occurred without any significant news from ShiftPixy. There were no new press releases, filings, or analyst coverage that could explain the sudden interest in PIXY stock.
It is important to note that PIXY shares are considered penny stocks, with a prior closing price of $1.46 and a market capitalization of just $9.863 million. This penny stock status can bring volatility, especially when certain traders attempt to manipulate the stock price. Investors should exercise caution when considering an investment in PIXY stock, as the shares may give up their recent gains in the near future.
As of Tuesday morning, PIXY stock was up by 28%. Stay informed with the latest stock market news and updates.