(MENAFN- AsiaNet News)

 

• In an amended regulatory filing, AiRWA confirmed a stake built by director Michael Anthony Belfiore.
• According to the filing, he now holds a 22.1% stake in AiRWA.
• Retail expects“FOMO” fear will kick in once the stock reaches $0.50.

Nano-cap AiRWA, Inc.'s (YYAI) stock fell for two consecutive sessions this week, but rebounded by nearly 32% in Tuesday's after-hours session, accompanied by substantial volume, following a filing by the company confirming an insider's stake build.

AiRWA stock, which has traded in a 52-week range of $0.0670 to $6.33, has elicited a strong bullish reaction from retail traders.

Insider Accumulates AiRWA Stock

In an amended Schedule 13D filing with the SEC, AiRWA confirmed the stake build by director Michael Anthony Belfiore, which the company disclosed earlier this month. A Schedule 13D is filed by a person who acquires more than 5% of a voting class of a company's stock, and who does not otherwise qualify to file a short-form report on Schedule 13G. It has to be filed within 10 days of the purchase of more than 5% stake. 

The company filed a Form 4 with the SEC on Oct. 15, stating that Belfiore purchased 3.21 million AiWA stock shares between Oct. 8 and Oct. 10, valued at $1.03 million. According to the 13D filing, Belfiore now holds a 22.1% stake in AiRWA.

AiRWA, formerly Connexa Sports Technologies, rebranded itself to the present name on Oct. 7, underlining its thrust into the Web3 space and blockchain technology. In late August, the company, which was then called Connex Sports, struck a $500 million agreement with Singapore-based JuCoin to establish aiRWA, a next-generation digital asset platform jointly. 

According to the companies, the venture will focus on real-world asset (RWA) tokenization aimed at bringing traditional investments such as real estate, government bonds, and fine arts into a digital format. As part of the deal, JuCoin committed a $100 million investment in AiRWA, including about $30 million of Solana (SOL) tokens.

How Retail Feels About AiRWA Stock

On Stocktwits, retail sentiment toward AiRWA stock shifted to 'extremely bullish' from the 'bullish' mood seen a day ago. The message volume remained at 'extremely high' levels. Retail chatter spiked nearly 3,500% in the 24 hours leading up to late Tuesday.

YYAI sentiment and message volume as of 1:55 a.m. ET, Oct. 22 | source: Stocktwits

One bullish user said“FOMO” fear will kick in once the stock reaches $0.50, and predicted a move to $1. Another user noted that retail traders' support could push the price past the level.

AirWA stock, which fell 19.18% on Tuesday to $0.0809, was seen jumping 44% in overnight trading, according to Yahoo Finance.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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