ReAlpha Tech soars, attracts social media eye
14/11/2023 14:26
** Shares of reAlpha Tech Corp AIRE.O soaring ~80% to
$10.58 premarket, following 34% gain on Mon as real estate
services artificial intelligence (AI) firm catches eye of social
media
** AIRE currently #2 trending ticker on
retail-investor-focused forum Stocktwits.com early Tues
** Co went public on Oct 23 in a direct listing vs a
traditional IPO. Its stock opened at $23.01 and skyrocketed as
high as $575.41
** Per SEC filing, co has roughly 42.5 mln shares
outstanding and its CEO and chairman, Giri Devanur, owns about
65% of the shares
** Co is not profitable and incurred net losses of
approx$5.45 mln and $5.38 mln for the years ended April 30, 2023
and 2022, respectively. It had an accumulated deficit of $6.14
mln and outstanding indebtedness of $2.18 mln
** Earlier this month, reAlpha announced commercial launch
of GENA, a product for property listing descriptions
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))