The new retail favorite jumps after an insider purchase.
- Director Hongyu Zhou purchased 1.1 million company shares, according to an exchange filing on Tuesday.
- Airwa has emerged as a retail favourite – with a 205% increase in Stocktwits watchers over 12 months – after its cryptocurrency pivot last year and its sharp stock moves.
- The nano-cap stock is already up by over 60% in the new year.
Shares of Airwa, Inc. (YYAI) soared nearly 16% in after-hours trading on Tuesday, driven by an insider purchase.
Hongyu Zhou, a director on the company’s board, purchased 1.1 million shares, bringing his shareholding to 1.6 million shares, according to an exchange filing. The trades were made over Sunday and Monday, with prices per share at $1.23 and $1.41, respectively.
The nano-cap stock closed at $1.26 on Tuesday and has risen 61.5% already in the new year.
Emerging Retail Favourite
Airwa is the newest stock garnering attention from retail investors, after the company's pivot to cryptocurrencies late last year.
In October, Airwa changed its name from Connexa Sports Technologies and announced a full pivot to Web3 and blockchain-based financial services, moving away from its earlier business in sports products, such as portable ball launchers and sports analytics.
It also announced a joint venture company with JuCoin Capital Pte Ltd, a cryptocurrency exchange and Web3 company headquartered in Dubai, to launch "AiRWA Exchange" for trading tokenized U.S. equities with Solana as a core asset.
Before that, the company pursued content creation and partnership deals, including an agreement with TikTok for live-streaming and influencer-driven content in the Middle East and North Africa.
Those moves led to an overall 205% increase in YYAI watchers on Stocktwits over the last 12 months and a whopping 25,300% increase in message volume.
As of late Tuesday, the retail sentiment for the ticker shifted multiple points higher in the ‘extremely bullish’ zone (84/100) over the prior day. “They have crazy 1 billion authorized shares wow. They can issue part of authorized shares whenever they need it. However, director buying shares in open market is always good. Will re- enter after market open tomorrow,” a user remarked.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
