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ShiftPixy (NASDAQ:PIXY) Soars on Spin-off Plans; Dual Listing
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ShiftPixy (NASDAQ:PIXY) Soars on Spin-off Plans; Dual Listing

Shares of staffing solutions provider ShiftPixy, Inc. (NASDAQ:PIXY) continue to trade higher today after the company announced plans to shift its Virtual Brand development pipeline and tech stack of ShiftPixy labs to its subsidiary, ShiftPixy Labs.

The subsidiary will then be distributed to ShiftPixy investors in the form of dividends. The record date for the transaction is September 8.

Further, the company plans a dual listing of ShiftPixy shares via an IPO on NASDAQ as well as Upstream. The move is intended to enable ShhiftPixy and ShiftPixy Labs to channel their resources on their own initiatives and achieve success in product development.

Will PIXY Stock Go Up?

PIXY shares are yet to pop up on analysts’ radars. On the other hand, our data crunch at TipRanks indicates investor sentiment in the stock remains very positive as the number of investor portfolios on TipRanks that hold PIXY shares has increased by 3.3% in the past 30 days.

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