PIXY is bringing a new food delivery concept to market
Good day everyone,
We are continuing coverage of ShiftPixy, Inc. (NASDAQ: PIXY), a company delivering a next-gen mobile engagement technology to help businesses with shift-based employees in the gig economy workforce.
Current price $4.37 per share
Outstanding shares (est.) 16.6M
Float (est.) 3.49M
In Friday’s session, PIXY shares gapped at the open by $1.13/share opening at $4.57. The shares hit a high of $6.22 before closing at $4.37/share.
The trading volume on Friday was 132,870,931 shares, a number that exceeds the outstanding share count by a factor of 8.0X. Friday’s volatility in the share price, coupled with the share volume could indicate an opportunity for near term gains. Look at the peaks in Friday’s session (chart below).
PIXY seems to have their finger on the pulse of what’s happening in the world today, bringing a new way of dining to us, disrupting the traditional restaurant model with ghost kitchens and delivery.
What could be driving the investor excitement in PIXY shares? We can identify three possible developments that may be acting as catalysts for the company shares:
We are all wondering what the “new normal” everyone is talking about will look like. We believe investors are recognizing that the concepts being developed at PIXY are a snapshot of the dining experience of the future, the new normal. ShiftPixy aims to help food service companies start up with a ghost kitchen, staffed by PIXY supplied gig labor, and delivery of the food with ShiftPixy employees. PIXY covers their gig employees with workers compensation, training, and compliance issues, taking those burdens away from their clients.
The company is relocating its headquarters to Miami. The relocation is part of ShiftPixy’s strategy, along with ShiftPixy Labs, to expand its business into the East Coast restaurant industry. The new ShiftPixy Labs Ghost Kitchen will also be in the Miami area. ShiftPixy’s Irvine, California office will remain open to continue serving the Company’s growing West Coast customer base.
The company is developing its Ghost Kitchen concept. A ghost kitchen is a food preparation and cooking facility set up for the preparation of delivery-only meals and has no dining area for walk-in customers. ShiftPixy Labs is a new suite of marketing and support services for these kinds of kitchens. Through ShiftPixy Labs, the Company expects to provide services from ghost kitchen business start-up, clear through to customer meal delivery.
ShiftPixy is reinventing the restaurant sector and the concept is intriguing to say the least. The ghost kitchen model eliminates many of the costs associated with a dine-in business and greatly reduces the transmission of viruses or pathogens in public gatherings.
The new PIXY concept seems designed for the times. Though PIXY is not a new company, we feel the new ghost kitchen concept represents a ground floor opportunity.
ShiftPixy has a FYE of August 31st and we look forward to their Q4 and FYE results. In Q3 that ended May31, 2020, the company posted revenue of $2M, up 23% YOY despite Covid 19 related impacts, and advised they had eliminated all long-term debt from their balance sheet.
At the end of Q3, the PIXY customer count continued to increase with approximately 81 clients representing over 300 customer locations and 2,700 billed employees, an increase of 106% over Q3 2019 (by the end of June there were 3,000 billed employees).
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 $4.5 trillion.
Many companies are struggling to keep their doors open during the pandemic but PIXY experienced growth in their Q3 that was March-April-May.
We note in the chart linked below that PIXY shares are currently trailing their 50 DMA and 200 DMA of $4.94 and $7.27, respectively. The current RSI (14) is 45.10. These data can indicate shares that have been oversold.
Updated report coming soon,
The Traders News Group
Do we disclose any information to outside parties?
We hate spam and we do not sell, trade, or otherwise transfer to outside parties your personally identifiable information.
What information do we collect?
We collect information from you when you subscribe to our newsletter or fill out a form. This includes your email address only.
When registering on our site, as appropriate, you may be asked to enter your: e-mail address
What do we use your information for?
When we collect your email it is used for one purpose to send you the free information you requested about small cap stocks. Please read our disclaimer carefully before viewing our emails.
Your information, whether public or private, will not be sold, exchanged, transferred, or given to any other company for any reason whatsoever, other than for the express purpose of delivering the information on small cap stocks that you requested.
We send periodic emails
The email address you provide may be used to send you information, respond to inquiries, and/or other requests or questions.
How do we protect your information?
We implement a variety of security measures to maintain the safety of your personal information when you enter, submit, your email address. We use a secure third party to send email to you.
Because we value your privacy we have taken the necessary precautions to be in compliance with the California Online Privacy Protection Act. We therefore will not distribute your personal information to outside parties without your consent.
Traders News Source is a wholly owned subsidiary of Traders News Source LLC, herein referred to as TNS LLC.
Our reports/releases are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The disclaimer is to be read and fully understood before using our services, joining our site or our email/blog list as well as any social networking platforms we may use.
PLEASE NOTE WELL: TNS LLC and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever.
Release of Liability: Through use of this website viewing or using you agree to hold TNS LLC, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. TNS LLC encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and TNS LLC makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. None of the materials or advertisements herein constitute offers or solicitations to purchase or sell securities of the companies profiled herein and any decision to invest in any such company or other financial decisions should not be made based upon the information provide herein. Instead TNS LLC strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. TNS LLC is compliant with the Can Spam Act of 2003. TNS LLC does not offer such advice or analysis, and TNS LLC further urges you to consult your own independent tax, business, financial and investment advisors. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled.
The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results.
In preparing this publication, TNS LLC has relied upon information supplied by its customers, publicly available information and press releases which it believes to be reliable; however, such reliability cannot be guaranteed. Investors should not rely on the information contained in this website. Rather, investors should use the information contained in this website as a starting point for doing additional independent research on the featured companies. TNS LLC’s parent company has been previously compensated twenty five thousand dollars cash via bank wire for our previous and this coverage of pixy by venado media llc. The advertisements in this website are believed to be reliable, however, TNS LLC and its owners, affiliates, subsidiaries, officers, directors, representatives and agents disclaim any liability as to the completeness or accuracy of the information contained in any advertisement and for any omissions of materials facts from such advertisement. TNS LLC is not responsible for any claims made by the companies advertised herein, nor is TNS LLC responsible for any other promotional firm, its program or its structure.
TNS LLC is not affiliated with any exchange, electronic quotation system, the Securities Exchange Commission or FINRA. TNS LLC is not a Broker/Dealer and does not engage in high frequency trading.