Gold is 2025’s best performer. UBS sees more upside
In a turbulent market environment, Connexa Sports Technologies Inc. (YYAI) stock has hit a 52-week low, reaching a price level of just $0.37. According to InvestingPro data, the company’s market capitalization has shrunk to just $6.12 million, with technical indicators suggesting the stock is in oversold territory. This significant downturn reflects a broader trend for the company, which has seen its stock value plummet by an alarming 95.25% over the past year. Investors have been wary as the company grapples with various headwinds, and this latest price point marks a concerning milestone for those holding YYAI shares. The steep decline over the year underscores the challenges Connexa Sports Tech faces as it strives to regain its footing in a competitive and rapidly evolving industry. InvestingPro analysis reveals the company’s overall financial health score stands at 1.1, rated as ’WEAK’, though the stock appears undervalued based on Fair Value calculations. Discover 10+ additional exclusive insights with InvestingPro.
In other recent news, Connexa Sports Technologies Inc. has secured an additional 50% ownership in Yuanyu Enterprise Management Limited (YYEM), raising its stake to 70%. This development has led to a change of control, the appointment of new directors, and a spin-off of Connexa’s Slinger Bag business. Connexa has also switched its auditor from Olayinka Oyebola & Co to Bush & Associates CPA due to charges against the former by the U.S. Securities and Exchange Commission.
In terms of financial highlights, Connexa has secured a multi-million dollar exclusive licensing agreement with Guofu Enterprise Management Co., through YYEM, which is expected to generate over $30 million in royalties by the end of 2026. An exclusive licensing agreement with UK-based Eternity Technology Limited, facilitated by Connexa’s stake in YYEM, is projected to yield over $19 million in license income for YYEM by December 2026.
The company has regained compliance with Nasdaq listing requirements, following a 1-for-20 reverse stock split. For the fiscal year ending January 31, 2024, YYEM reported royalty revenues of approximately $1.9 million and has secured licensing agreements projected to generate over $70 million in the next three years. These are among the recent developments at Connexa.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.