Conexxa Sports Stock Jumps Amid Retail Frenzy After Pivot To Solana-Based AiRWA Exchange

Shares of Conexxa Sports Technologies (YYAI) jumped as much as 36% in pre-market trade on Thursday as retail buzz surged around the stock after it announced a pivot to blockchain and a new investment earlier this week.

The rebound comes after Conexxa’s stock plunged more than 90% on Tuesday after the announcement, before regaining 7% on Wednesday. Despite the recovery, the stock remained below the $1 mark. On Stocktwits, retail sentiment around the shares trended in ‘extremely bullish’ territory amid ‘extremely high’ levels of chatter. 

Platform data showed that the number of retail investors tracking the stock increased by 25% over the past day, while message volume increased 72%. Over the past week, watchers rose 81% and chatter jumped 404%.

Earlier this week, Conexxa announced plans to rebrand as AiRWA Inc., marking a shift from sports technology to blockchain-based financial services. The company also unveiled a joint venture with Singapore-based cryptocurrency firm JuCoin Pte, which has committed an initial $100 million investment to AiRWA Exchange.

That investment includes 150,000 Solana (SOL) tokens valued at about $34 million. Over time, the exchange is expected to receive $500 million in total funding from both partners. The company said AiRWA Exchange will focus on major trading pairs on the Solana blockchain.

Solana’s price gained 1.2% in the last 24 hours, trading at around $224 – the only cryptocurrency among the top 10 by market capitalization in the green during early morning trade. However, retail sentiment around the altcoin edged lower into ‘neutral’ from ‘bullish’ territory on Stocktwits over the past day.

Read also: Bitcoin, Ethereum, And Other Major Cryptocurrencies Dip Ahead Of Powell’s Speech Amid Rising Dollar

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on