Why Is Inpixon (INPX) Stock Up 31% Today?

  • Inpixon (INPX) stock is taking off on heavy trading Wednesday!
  • That’s despite a lack of news concerning the company.
  • Today’s jump follows similar movement in INPX yesterday.
INPX Stock. Group of colleagues discuss something in an office conference room.

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Inpixon (NASDAQ:INPX) stock is rocketing higher on Wednesday despite a lack of news concerning the solutions and technologies company.

Instead, it looks like heavy trading is behind the rise in INPX stock today. This has some 6 million shares on the move as of Wednesday morning. For comparison, the company’s daily average trading volume is closer to 492,000 shares.

This isn’t the first day that INPX stock has gained alongside heavy trading volume recently. Shares also jumped 6.1% on Tuesday after roughly 18 million shares changed hands. Yet again, there was no company news behind that movement.

Investors will keep in mind that INPX is a penny stock. It currently only trades for about $1.56 and has a market capitalization of around $5 million. That means it’s easily subject to volatility, especially in pre-market hours.

What Is Inpixon?

Inpixon is a solutions and technologies company that operates in three segments. These segments include its mobile app services, indoor tracking and mapping and its omni-channel events. This data makes it possible for businesses to create smart campuses and better understand how to use the space.

Inpixon was founded in 1999 and operates out of Palo Alto, California. The company currently employs around 200 people.

INPX stock is up 30.8% in pre-market trading on Wednesday.

Investors seeking more recent stock market news will want to stick around!

InvestorPlace is home to all of the hottest stock market coverage traders need to know about today! That includes this morning’s biggest pre-market stock movers, as well as the latest on Mullen Automotive (NASDAQ:MULN) and Bed Bath & Beyond (NASDAQ:BBBY) stock. You can find out more on these matters at the links below!

More Wednesday Stock Market News

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On the date of publication, William White did not hold (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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/why-is-inpixon-inpx-stock-up-31-today/.

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