ShiftPixy PIXY up huge

ShiftPixy PIXY up huge after heavy volume after the last few days. The stock skyrocketed up over 100% in two trading days. The stock is currently consolidating and deciding what it wants to do next.

Let’s take a quick look at ShiftyPixy

Company Name: ShiftPixy, Inc. 

Ticker: (PIXY)

Exchange: NASDAQ

Company Summary:

ShiftPixy is inching closer to its goal of becoming a national staffing leader after raising $115 million in an initial public offering for Industrial Human Capital, a blank check company formed to acquire industrial staffing companies.

Industrial Human Capital is one of four special purpose acquisition companies (SPACs) formed by ShiftPixy, a Miami-based platform that connects businesses with short-term hires and gig workers.

Why did it go up over 100%?

No big news, just this. I don’t think that warrants the incredible increase in share price.

ShiftPixy PIXY) 1 Day Chart

ShiftPixy PIXY Technical Analysis:

It has been consolidating the whole day after a morning rush of volume driving the PPS up almost 50% with high volume. The stock seems very stable in the consolidation pattern. I would wait till PIXY breaks above $1.68 or at least $1.64 before considering a purchase. 

I would place my stop loss at $1.45, because, if it goes below, it will pull back. The stock is very interesting with relatively no news and feels like an awareness campaign but the stock is stable. Wait for confirmation at $1.64 before moving on it and make sure to keep an eye on it.