Connexa Sports Technologies Inc (OTCMKTS:CNXA) Stock Continues to Trend Lower
Connexa Sports Technologies Inc (OTCMKTS:CNXA) stock has been trending lower over the past few weeks as the broader market is under pressure. The stock has lost almost 18% in the past month. Let’s take a look at the company’s recent developments.
Connexa Sports is a leading connected sports company delivering products, technologies, and services.
Market Stats
On Thursday, CNXA stock slid 4.60% to $0.8110 with more than 4.6K shares, compared to its average volume of 7.9K shares. The stock moved within a range of $0.8020 – 0.8995 after opening trading at $0.8995.
Slinger Announces Successful Beta Test of its Ball Launcher for Pickleball; Set for Fall Commercial Release to the Market
Connexa Sports Technologies Inc (OTCMKTS:CNXA) on June 7, 2022, announced that the wholly-owned subsidiary, PlaySight Interactive is expanding its partnership with world-renowned IMG Academy.
Playsight initially partnered with IMG Academy back in 2020 through the baseball program, relying on its sports technology platform for live streaming. With tennis now a part of the offerings, PlaySight is bringing the technology to IMG Tennis as well as the 55 courts at the Bradenton, Florida campus.
IMG Academy is a prestigious sport, performance, and educational institution that is continuing to be a trendsetting destination for high school-age athletes.
Amar Vora, the Tennis Program Manager at IMG Academy said that Playsight will take IMG Tennis to a different level. Vora added that the baseball program has benefitted from the technology and Playsight has made a robust reputation over the years. Vora further said that the company would be giving its student-athletes as well as coaches the tools required for performing better.
PlaySightgives video technology as well as live streaming capabilities for more than one hundred collegiate tennis programs as well as leading tennis federations globally. Since its inception, it has become the standard for high-quality sports video throughout the industry.
“IMG Academy has been a great partner to us over the past few years, from JT Musso’s leadership to now working with Amar and the world-class tennis academy,” said PlaySight VP Scott McMeekin. “There isn’t a better facility for us in sport – as a high-performance company focused on innovation and bringing the very best tech to all levels of sport, IMG, its coaches and student-athletes push us to be our best.”
Slinger Announces Successful Beta Test of its Ball Launcher for Pickleball; Set for Fall Commercial Release to the Market
Connexa Sports Technologies Inc also announced that the flagship consumer brand, Slinger, completed a test of the new Ball Launcher for pickleball. Slinger has made a strong consumer brand in the last two years with the innovative Ball Launcher for tennis, having debuted in 2020. It is already on track for eclipsing $20m in sales this fiscal year with revenue growth of 66 percent.
The firm will commence selling the Ball Launcher by the fall, which would be enhanced by the Connexa Sports platform as well as the ecosystem of leading AI and video technologies.
Mike Ballardie, CEO of Connexa Sports expressed excitement about the feedback on the Pickleball Ball Launcher testers. Ballardie is looking forward to launching the high-growth sport. He added that the company remains focused on gaining a robust understanding of the consumer as well as delivering on what they need.
Pickleball has been dubbed as the fastest growing sport in the country, witnessing a growth of 39 percent annually since 2019. In the US alone, there are about five million players.