Inpixon (NASDAQ: INPX) isn’t having the best of days in the market today, but the declines could be worse. Ultimately, the stock is falling after announcing a reverse stock split. However, along with the reverse split announcement came positive news that seems to be dampening the declines. Today, we’ll talk about:
- The reverse split and positive news;
- what we’re seeing from INPX as a result; and
- what we’ll be watching for ahead.
INPX Announces Positive News That Dampens Reverse Split Declines
As mentioned above, Inpixon isn’t having the best of days in the market today. The declines come after the company announced a 1-for-40 reverse split that became effective this morning. The reverse split was processed in order to regain compliance with the $1 minimum bid price requirement upheld by the NASDAQ.
In general, reverse splits lead to pretty hefty declines. However, INPX released positive news that seems to be dampening the declines. In a press release issued early this morning, the company announced a development project. Through the project, the company intends on enabling its Indoor Positioning Analytics Platform to ingest and analyze video feeds.
This ultimately expands the company’s sensor fusion technology. This is the use of sensory data from multiple sources that is combined into one comprehensive result that the company believes provides more accurate, complete, and dependable business intelligence and security applications. In a statement, Nadir Ali, CEO at INPX, had the following to offer:
IoT devices, security cameras and other data capture sensors are practically everywhere… The challenge is to filter the information captured by those devices, so it can be processed and analyzed in a meaningful way. Inpixon has extensive experience in radio frequency data fusion, which we believe we can leverage due to the similarities between radio waves and the light waves captured by CCTV cameras. By capturing, analyzing, and correlating image data captured in the myriad security cameras that are already installed in most buildings, combining it with our RF sensor data, and applying the data science which is included in our proprietary artificial-intelligence-powered analytics engine, we expect to be able to offer powerful insights about the indoors that we have not be able to offer previously.
Location is the lynchpin… To know what’s going on in your building — for security purposes, for sales or customer service purposes, or for applications like location-based marketing or augmented reality — you must know the location of persons and electronic devices in your space. Inpixon’s specialty is indoor positioning. The global indoor location market size is expected to grow from USD 7.11 Billion in 2017 to USD 40.99 Billion by 2022 according to MarketsandMarkets. Adding video feeds as an additional data source to our Indoor Positioning Analytics Platform is a natural fit that we believe will result in significant benefits for our customers and, in turn, Inpixon.
What We’re Seeing From The Stock
With the reverse stock split in mind, upset investors are sending the stock down. However, they are getting second thoughts as they digest the positive news, making the declines a bit less harsh than they could have been. Of course, our partners at Trade Ideas were the first to alert us to the movement. At the moment (9:14), INPX is trading at $7.28 per share after a loss of $0.13 per share or 1.71% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on INPX. In particular, we’re interested in following the story surrounding the company’s continued work to improve upon its indoor positioning system and the commercialization of the system. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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