AiRWA stock soars 32% after director's $1M share buy sparks FOMO rally
AiRWA Inc., a digital asset platform specialising in real-world asset tokenisation, has seen a sharp rise in investor interest. The company's stock surged 32% in after-hours trading on Tuesday after a major share purchase by a director. This follows a recent rebranding and a significant business deal in August. The company, formerly known as Connexa Sports Technologies, changed its name to AiRWA Inc. on October 7. Just days later, director Michael Anthony Belfiore bought 3.21 million shares between October 8 and 10. The purchases, at average prices of $0.32 and $0.19 per share, totalled $1.03 million.
Belfiore now holds a 22.1% stake in the firm. His investment triggered a surge in trading activity, with Stocktwits message volume for YYAI jumping 17,600% over three months. Retail traders have turned extremely bullish, with many predicting a fear-of-missing-out (FOMO) rally once shares hit $0.50. The stock's float stands at around 15 million shares, leaving it vulnerable to large price swings. AiRWA's recent momentum also follows a $500 million agreement with Singapore-based JuCoin in late August. The deal established AiRWA as a joint platform for tokenising real-world assets.
AiRWA's stock rebound comes amid growing retail enthusiasm and a major director purchase. The company's rebranding and partnership with JuCoin have added to its market visibility. With a low float and high volatility, further price movements remain likely in the near term.
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