Morning Update (PIXY): Today's Profile Trends Green On Big Breaking News
$50 Analyst Price Target - Zacks Small-Cap Research
Huge news this morning has PIXY trending green early and up approximately 8%. Read it now:
ShiftPixy Introduces ShiftPixy Labs
Exciting new suite of services extends ShiftPixy’s support of QSR end-to-end needs
IRVINE, Calif., July 29, 2020 (GLOBE NEWSWIRE) -- ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced the launch of ShiftPixy Labs – a new suite of marketing and support services for quick service restaurant operators (QSRs) seeing increased opportunities in the gig economy due to c-virus restrictions and lockdowns.
Coming on the heels of the financial collapse of 2008, the gig economy began to emerge in 2009 with platforms like Uber. Since then, it has exploded in size and popularity: more than a third of the workforce in the United States is part of the gig economy and the global gig marketplace is estimated at $4.5Tn. Areas of this market are still in a growth phase, with approximately $27Bn in new funding applied to third-party delivery startups alone.
At the start of 2020, the restaurant industry was already experiencing challenges caused by third-party delivery services and lost customer engagement, as well as employee retention and compliance. The arrival of the CV pandemic exacerbated these existing dilemmas and gave ShiftPixy’s approach to the gig economy a boost by providing operators the agility they need to meet the demands of a changing marketplace.
Through its unique gig engagement platform, ShiftPixy empowers restaurant operators to take full advantage of their human capital with powerful functionality to handle payroll, compliance and native delivery. The Company expects ShiftPixy Labs to provide additional layers of services and engagement, from business startup clear through to customer meal delivery.
“2020 has been a year of tremendous growth and transformation for ShiftPixy and I’m proud of the work we’ve accomplished in helping restaurants adapt to the challenges posed by CV-19,” said ShiftPixy Co-Founder and CEO Scott Absher. “ShiftPixy Labs is the next stage in our evolution. This is a bold new project that’s aiming to change the way restaurants are built from the ground up. In light of the combined forces of gig economics and CV, we think ShiftPixy Labs will be a vital resource for making operators agile amid market upheavals like we are experiencing today. We look forward to sharing more details of this exciting venture in the coming weeks.”
Could this be the news that gets low float PIXY spiking towards its next big breakout?
Right now PIXY is trading above its approximate 5-Day and 20-Day Simple Moving Averages!
If you haven't yet, read my full PIXY report below and get it on your radar now.
The market is officially open so we don't have a single second to waste this morning.
Your new stock profile for Wednesday, July 29th is:
*ShiftPixy, Inc. (NASDAQ: PIXY)*
ShiftPixy is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce.
And, right now, you need to pull up PIXY for this first MAJOR reason:
#1 Potential Breakout Catalyst For PIXY - Share Structure
Here's a NASDAQ stock with an interesting share structure to take into consideration.
According to Yahoo Finance, there are only 3.49Mn shares in PIXY's float.
This amount is tiny...
When a stock has a float this small, the potential for volatility/price spiking is ever-present.
All PIXY may need for a potential short-term breakout is some good company news to bring buzz to the stock. Extreme vertical movement up the charts could follow.
> PIXY Has A History Of Short-term Breakouts In 2020 <
#1. On January 7th, the stock closed at $8.07 and during the following session hit a high of $27.50!
That's a whopping short-term surge of approximately 240%.
#2. That's not all... On March 18th, PIXY opened at $5.25 and ran that day to a high of $16.93.
Overall, that intraday surge amounted to an approximate 222% run.
#3. PIXY opened April 14th's session at $4.93 only to race to a high on the 15th of $11.40.
This short-term run can be calculated as an approximate 131% explosion.
#4. Most recently, PIXY opened on May 18th at $6.36 only to shoot to a high of $15.56 one day later.
That's right. PIXY made another triple-digit run in the amount of approximately 144%.