PIXY - ShiftPixy (PIXY) Stock Moves on Mobile Ordering App Announcement
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ShiftPixy (NASDAQ:PIXY) stock is on the move Friday as investors react to news of a new mobile ordering app for food.
According to a press release, ShiftPixy is developing this app for use with Digital Food Brands. These are online-only restaurants that deliver food to customers. That means they don’t offer traditional options for pickup or dining in.
ShiftPixy says that its app will allow these Digital Food Brands to reach more customers and provide them with details of their business. That includes listing menus, allowing order customizations, as well as including special instructions. It will also hand delivery tracking and payment.
Scott Absher, founder and CEO of ShiftPixy, said the following about the news.
What sets our apps apart from the competition is the use of artificial intelligence and machine learning to personalize the customer experience. By analyzing past ordering history and preferences, and through a short chat with our brand characters within the app, the AI bot will present a few suggested menu items tailored specifically to each individual customer along with available deals with each order.”
What This Means For PIXY Stock
ShiftPixy offering news apps for Digital Food Brands can increase its revenue through the support of those businesses. If that goes well, it could mean investors in PIXY stock will see the benefits with increased share prices.
With today’s news comes heavy trading of PIXY stock. As of this writing, more than 1.3 million shares of the stock have changed hands. That’s quite the leap over the company’s daily average trading volume of about 59,000 shares.
PIXY stock is seeing volatility following today’s news. The stock initially jumped as much as 12% this morning but is currently down 7.9% as of this writing.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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