StockWireNews
Tiny Float (CNXA) Is A Nasdaq Idea On Breakout Watch Now (Under 1Mn Shares In Float!)
October 3rd
Greetings Readers,
We gotta talk for a sec...
This past Thursday, a breakout idea was brought to your attention at the opening bell.
A low float profile on the Nasdaq, it leaped to a new 3-month high of $.48 after opening at $.3398.
That exceptional surge resulted in an intraday move of approximately 41%!
Plus, we can't overlook that intraday swing move from $.22 to $.48 for an insane bolt of approximately 118%!
But we're not ones to live in the past. We're ones that look forward.
Right now, we're on a Nasdaq low float idea brimming with explosive breakout potential.
And when we say low float, we may not be giving you the full scope of what we're looking at here...
How about a float of fewer than 1Mn shares?
Listen. I'm not going to drown you in details this second because may already be running low to pull up this company profile:
*Connexa Sports Technologies Inc. (CNXA)*
Connexa Sports is a leading connected sports company delivering products, technologies, and services across a range of activities in sports.
And we're fixated on one key detail above all others right now... CNXA's incredibly tiny float.
CNXA Announces 1-40 Reverse Split
Recently, CNXA made a major announcement in regards to their share structure.
Check it out:
Connexa Sports Technologies Inc. Announces 1-40 Reverse Split
Baltimore, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Connexa Sports Technologies Inc. (NASDAQ: CNXA) (www.connexasports.com) (the “Company”) announced that it will conduct a reverse st-ock split of its outstanding shares of common st-ock at a ratio of 1-for-40. The reverse st-ock split will become effective on September 22, 2023. The Company’s common st-ock will begin trading on a post-split basis at the market open on September 25, 2023, under the Company’s existing trading symbol "CNXA", with the new CUSIP number, 831445309...
Read the full article here.
CNXA's Reverse Split Creates Tiny Float/Volatile Potential
According to the Yahoo Finance website, CNXA now has a tiny low float.
The website reports this profile to have roughly 480.1k shares in its float.
Why is that important? It's important on one crucial level. Volatility.
Could positive company news towards the end of 2023 provide CNXA with a breakout spark?
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CNXA Company Breakdown - Redefining Sports Consumption
Infrastructure, Content & Data, Consumers
In the next five years, the Company believes that most commercial sports courts, fields, rinks, and facilities will become "Smart" through connected camera technology.
CNXA is at the forefront of supplying the technology infrastructure.
Their aim is to build a direct connection to the sports consumer, delivering numerous monetization opp's, including advertising.
The currency of their Company will be the media content and player data they capture and produce through the Connexa connected platform.
