07:10 AM EDT, 10/17/2024 (MT Newswires) -- Nixxy ( NIXX ) shares were up more than 238% in Thursday's premarket activity after the company disclosed a three-year strategy to acquire $1 billion worth of established, stable, and profitable businesses and use technology to enhance their operations.

The company said it will focus on acquiring businesses with net revenue of $10 million to $100 million and gross profit margins of at least 40%.

The company said it plans to use tech tools and Artificial Intelligence platforms to "decipher and analyze data" within specific industries to increase the companies' profitability.

Price: 8.0200, Change: +5.65, Percent Change: +238.40