Here’s why Shiftpixy (PIXY) and Minim (MINM) stocks are soaring

Shiftpixy (PIXY) and Minim (MINM) stock prices surged hard this week in a high-volume environment. PIXY jumped by more than 58% in the pre-market while Minim soared by over 42%. As a result, Minim has gained a market cap of over $14 million while ShiftPixy’s jumped to $16 million.

The two companies jumped in a high-volume environment. Data by Yahoo Finance shows that ShiftPixy’s volume on Tuesday was over 101k shares. In the pre-market on Wednesday, the volume jumped to over 2.1 million.

Minim’s volume in the pre-market session jumped to over 932k. That was much lower than Tuesday’s volume of over 2 million shares. This volume will likely continue rising in the regular session. 

Minim’s stock surged after the company decided to merge with e2Companies. After the merger, the combined company will be known as e2Companies and continue trading in the Nasdaq. In a note, the co-CEO of Minim said:

“After running a very thorough merger process, we are extremely excited to announce this transaction. We believe that e2Companies could disrupt the energy sector by providing Grid 3.0 energy solutions.”

For starters, Minim is a company that was established in 1977. It is a company that provides networking solutions. Its platform helps to secure WiFi connections. According to its website, Minim provides Motorola WiFi solutions that eliminate dead zones and boost network speeds.

ShiftPixy, on the other hand, soared after the company announced a new finance leader. The firm said that Patrice Launay will become its new Chief Financial Officer (CFO). This is notable since Patrice was its CFO between January 2018 to July 2019.

Taken together, Minim and ShiftPixy stocks are surging because of their popularity in social media. At the time of writing, they were among the most trending stocks in key platforms like StockTwits and Reddit. 

Still, despite these moves, the two companies are still much lower than their all-time highs. ShiftPixy, as I wrote here, has crashed by over 99% from its all-time high. Similarly, Minim has collapsed by 95% from its record high.

This happened as the two companies have seen significant challenges. ShiftPixy’s revenue retreated from $36 million in 2022 to over $17.1 million. Minim’s revenue, on the other hand, dropped from $55.4 million in 2021 to $50.6 million in 2022. Its revenue fell to $35.3 million in the trailing twelve months.