Myseum Inc. (NASDAQ:MYSE) shares are trending on Wednesday night.
MYSE surged 175% to $3.96 in after-hours trading Wednesday after the New Jersey-based company announced its rebrand to Myseum.AI, Inc., signaling a full pivot to proprietary artificial intelligence.
A Privacy-First Pivot Sends MYSE Soaring
The social media technology company is building localized, privacy-first AI agents designed to manage personal media such as photos, videos and messages without sharing user data with traditional AI models. Myseum stated that the system adapts to individual habits and preferences while preserving data integrity and encryption.
CEO Darin Myman said, “Our new name identifies our core AI-based technology that secures our multi-tiered social media ecosystem.”
The ticker symbol “MYSE” remains unchanged on Nasdaq.
Broader Market Trend
MYSE’s rebrand follows a broader market trend. On the same day, Allbirds Inc. (NASDAQ:BIRD) announced a $50 million convertible financing facility to pivot into AI compute infrastructure, acquire high-performance GPU assets and become a GPU-as-a-Service provider.
The California-based company, which is a sustainable footwear brand, is shifting its focus to AI compute.
Allbirds also plans to rename itself NewBird AI.
Trading Metrics, Technical Analysis
Myseum has a market capitalization of $6.23 million, with a 52-week high of $3.65 and a 52-week low of $1.31.
It has a Relative Strength Index (RSI) of 40.27.
Over the past 12 months, the small-cap company has dropped 39.50%.
Price Action: According to Benzinga Pro data, MYSE closed the regular session at $1.44, down 2.04%.
Currently, the stock is positioned close to its annual low.
Benzinga's Edge Stock Rankings show that MYSE is exhibiting a negative price trend across all time frames.
Photo Courtesy: Champ008 on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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