CXApp Stock Rockets After Tiny AI Firm Buys EngineRoom—The 75% Move Explained
CXApp Inc. shares surged in heavy Nasdaq trading on Thursday after the workplace-software company said it had bought EngineRoom, an Australia-based AI-enabled growth-intelligence platform, in a cash-and-earnout deal worth about $4.6 million. The stock was at 27.8 cents in morning trade, up 11.88 cents from the prior close, after touching 34.66 cents earlier. More than 314 million shares had changed hands by the latest trade recorded at 10:23 a.m. EDT.