ShiftPixy (NASDAQ:PIXY) stock is on the move Friday as investors react to news of new mobile ordering apps for food.
According to a press release, ShiftPixy is developing these apps for use with Digital Food Brands (DFBs), “online-only restaurants that deliver to the customer doorstep.” These restaurants don’t offer traditional options for pickup or dining in.
ShiftPixy says that the apps will allow these DFBs to reach more customers and provide them with details of their businesses. That includes listing menus, allowing for order customization and special instructions, tracking deliveries and more.
Scott Absher, co-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 new apps for DFBs may 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 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 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.