Why Is CXApp (CXAI) Stock Up 15% Today?


  • CXApp (CXAI) stock is rising following its public debut yesterday.
  • It’s worth noting the company’s stock fell during its first day of trading.
  • The company is a spinoff of Inpixon (INPX).
CXAI Stock - Why Is CXApp (CXAI) Stock Up 15% Today?

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CXApp (NASDAQ:CXAI) stock is climbing higher on Thursday as the company’s shares made their public debut yesterday.

The launch of CXApp stock came about after its merger with KINS Technology Group. This saw parent company Inpixon (NASDAQ:INPX) distribute its outstanding capital stock of the company to shareholders as part of the launch.

Nadir Ali, CEO of Inpixon, said the following about CXApp going public:

“The closing of this strategic business combination offers CXApp an opportunity to further accelerate its ability to grow with a leadership team comprised of industry experts with prior experience in scaling and successfully building businesses. We are also happy to have been able to structure a transaction that will allow our shareholders to continue to share in the anticipated benefits of the potential opportunity of this business.”

CXAI Stock Movement

Some 540,000 shares of CXAI stock have changed hands as of this writing. That’s quite a bit of movement, considering more than 732,000 shares traded during its debut yesterday. This also has shares of CXAI stock rising 14.8% higher in pre-market trading on Thursday. However, that comes after the company’s stock fell 58.5% during its first day of trading on Wednesday.

CXApp is focused on providing services, features, and functions in the workplace. Specifically, it supports the tech stack with an app that collects all of this in one place.

Investors looking for more of the latest stock market news will want to keep reading!

InvestorPlace has all of the hottest stock market news traders need to know about on Thursday. Among that is why ThermoGenesis (NASDAQ:THMO) stock is rising, the biggest stock market movers this morning, and more. We’ve got all that news ready to go at the links below!

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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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