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ShiftPixy Shares Slide 21% in Reversal Following Reverse Break up Rally

By Denny Jacob

ShiftPixy Inc. shares slid 21% to $16.30 on Friday, erasing positive factors made on Thursday after the corporate started buying and selling on a reverse break up foundation.

The gig financial system employment platform firm stated Wednesday {that a} 1-for-100 reverse inventory break up would start buying and selling on Thursday following shareholder approval in July. The inventory closed Thursday at $20.58, up roughly 47% from the prior day’s shut.

Buying and selling on Friday was paused for volatility twice, most not too long ago at 9:49 a.m. EDT earlier than resuming 5 minutes later. The inventory had traded roughly 482,039 shares as of 11:47 a.m. EDT, in comparison with its 65-day common quantity of 55,705 shares.

Write to Denny Jacob at denny.jacob@wsj.com

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