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ShiftPixy Inc. (Nasdaq: PIXY) Stock Surges After Announcing a Major Acquisition

It is highly likely that the ShiftPixy Inc. (Nasdaq: PIXY) stock is going to be in sharp focus today after it ended up clocking gains of 54% for the day on Thursday. The rally was triggered following an announcement from the national staffing company yesterday.

ShiftPixy, Inc. Announces Acquisition of TurboScale

The company hit the radars of investors yesterday after it announced that it had successfully completed the acquisition of TurboScale in a transaction worth $150 million. TurboScale is an advanced artificial intelligence technology company focused on scalable GPU cloud infrastructure as well as AI model development.

The deal had been completed through $75 million in debt and $75 million in stock. In the news release, ShiftPixy noted that the acquisition was a demonstration of its commitment to speeding up innovation and boosting its platform through the cutting-edge AI solutions from TurboScale.

The Rationale

The company noted that the GPU-based infrastructure from TurboScale would allow businesses to scale and then deploy AI models with greater ease. The TurboScale platform provides customizable, cost-effective, and private cloud solutions that can serve businesses of all sizes.

Hence, it would enable ShiftPixy to offer a plethora of new AI-related features, including real-time machine automation and predictive analytics in real time. It now remains to be seen if the stock can add to its to end the week on a strong note.

Management Comment

“We are excited to welcome TurboScale into the ShiftPixy ecosystem. Their groundbreaking AI infrastructure will amplify our capabilities and unlock new possibilities for our clients,” said Scott Absher, CEO of ShiftPixy. “Together, we are set to bring cutting-edge workforce management tools and provide innovative, AI-powered solutions to businesses looking to scale.”

Traders Notes

+/- EMA(20)10.3 (-17.48%)
+/- SMA(50)14.13 (-39.84%)
+/- SMA(200)36.55 (-76.74%)
5-Day Perf.-12.82%
1-Month Perf.-50.29%
3-Month Perf.-64.8%
6-Month Perf.-69.53%
YTD Perf.-89.62%
1-Year Perf.-95.18%
RSI(14)39
ATR(14)2.35
ADX(14)26.58
Beta (5Y)1.19

Published by Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.

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