Gaxos.ai Inc witnessed a significant surge in its stock value after announcing the acquisition of rights to utilize cutting-edge AI-enabled biohacking technology from Ultiself. The company’s stock, which closed Tuesday’s session at $5.32, experienced a remarkable surge, commencing Wednesday’s session at $10.59. Additionally, the stock observed an enormous surge in trading volume, with more than 35.9 million shares traded by noon, compared to its average daily volume of 227.84 thousand shares.
At the time of this publication, Gaxos.AI Inc stock (GXAI) has witnessed a surge.
Gaxos.AI Inc
Current Price: $11.34
Change : +6.02
Change (%): (113.16%)
Volume: 35.9M
Source: Tomorrow Events Market Data
The acquisition of this technology from Ultiself marks a strategic move for Gaxos.ai Inc, intending to enhance its product offering and user experience. Vadim Mats, CEO of Gaxos.ai, expressed excitement about integrating this technology into the company’s AI-enabled application for the Gaxos Health product offering. Mats emphasized that the technology would enable a more customized approach to delivering diet, nutrition, and tracking capabilities to customers.
Earlier last week, Gaxos.ai announced a 1-for-12 reverse split of its issued and outstanding common stock, effective March 7th. Trading under the same symbol, “GXAI,” on The Nasdaq Capital Market, the company’s stock commenced trading on a post-split basis on March 8, 2024. With the reverse stock split, every 12 shares of issued and outstanding common stock were exchanged for 1 share, rounding up fractional shares to the next higher whole share. Following the reverse stock split, the company had approximately 981,523 shares of common stock issued and outstanding.
Reflecting on Gaxos.ai’s recent stock performance, the company has demonstrated remarkable growth across various time frames. Over the past five days, the stock surged by 90.21%, while over the past month, it recorded a staggering increase of 306.78%. Furthermore, the stock’s performance over three months and year-to-date stood at 162.68% and 164.29%, respectively. Despite a negative trend over the past year, Gaxos.ai’s recent strategic moves and technological advancements signal a positive trajectory for the company in the near future.
