Retail sentiment shifted to extremely bullish with traders predicting FOMO at 50 cents
AiRWA Inc. stock jumped nearly 32% in after-hours trading Tuesday. The move came after the company filed an amended Schedule 13D with the SEC.
AiRWA Inc., YYAI
The filing confirmed a major stake build by director Michael Anthony Belfiore. According to the document, Belfiore now holds 22.1% of the company’s outstanding shares.
The stock had fallen for two consecutive sessions earlier this week. But the disclosure triggered a sharp reversal on heavy volume.
YYAI trades in a 52-week range of $0.0670 to $6.33. The recent price action has caught the attention of retail traders across social media platforms.
AiRWA initially disclosed Belfiore’s purchases earlier in October. The company filed a Form 4 with the SEC on Oct. 15.
That form showed Belfiore bought 3.21 million shares between Oct. 8 and Oct. 10. The total purchase value came to $1.03 million.
The Schedule 13D filing must be submitted within 10 days when someone acquires more than 5% of a voting class. It applies to investors who don’t qualify for the shorter Schedule 13G form.
AiRWA was formerly known as Connexa Sports Technologies. The company changed its name on Oct. 7 to reflect a new focus on Web3 and blockchain technology.
In late August, the company struck a $500 million agreement with Singapore-based JuCoin. The deal established aiRWA as a joint digital asset platform.
The venture focuses on real-world asset tokenization. This includes bringing traditional investments like real estate and government bonds into digital format.
JuCoin committed $100 million to the project. About $30 million of that investment came in the form of Solana tokens.
The platform will target tokenization of traditional assets. Fine arts are also part of the planned offerings.
Stocktwits data shows retail sentiment toward YYAI shifted dramatically. The mood went from bullish to extremely bullish in just 24 hours.
Message volume remained at extremely high levels. Retail chatter spiked nearly 3,500% in the 24 hours leading up to late Tuesday.
Over a three-month period, message volume surged by 17,600%. The spike reflects growing retail interest in the stock.
One bullish user predicted FOMO will kick in once the stock reaches $0.50. That same trader sees a potential move to $1.
Another user noted that strong retail support could push the price past that level. Trading volume has been substantial during recent sessions.
Belfiore’s buying came at average prices of $0.32 and $0.19 per share. The purchases show confidence from company leadership during a volatile period.
The director’s stake now represents more than one-fifth of all outstanding shares. His position makes him one of the largest individual shareholders.
The stock’s tiny float of roughly 15 million shares makes it susceptible to large price swings. Even modest orders can move the price substantially.
