ShiftPixy uses a social networking app to match employers with part-time “shift” employees.
ShiftPixy’s CEO, Scott Absher, has a checkered past with some pump and dump scams where the SEC had to step in.
ShiftPixy management talks a lot about the new app, but it’s dysfunctional, and has very few downloads after being released a month ago.
We believe ShiftPixy is nothing but a struggling staffing agency trying to look like it has a revolutionary “Uber-like” technology.
With very small net revenue and high expenses, we see 50%+ downside in the stock within a year, and likely an eventual delisting.
See full report on Seeking Alpha here.