Shares of the micro-cap seller of used electronics soared 3600% in a day. It's about AI

Quotes of Inno Holdings, which repairs, recycles and sells used electronics, soared more than 3,600% in trading on June 8. This is despite the fact that it took the company two reverse splits in six months to raise the value of securities above $1 and avoid delisting. The reason for the rally was Inno's announcement that it plans to launch AI agents to automate sales of used phones.

Shares of Inno Holdings, whose activities are mainly concentrated in Hong Kong, rose by 3661% on the Nasdaq exchange on June 8. This is the biggest one-day jump in the company's history, Stocktwits writes.

The rally started after Inno announced that an unnamed Hong Kong-based company will develop an AI agent system for it for $3 million to sell used cell phones. The project aims to automate sales, improve customer engagement and increase conversion rates, the press release said. The AI agents will interact with customers, manage pricing and close deals faster, Inno CEO Ding Wei said.

"The used cell phone market is at a tipping point. Automation based on artificial intelligence can create decisive competitive advantages," he explains.

The project is now in the early stages of development and there is no guarantee of its successful implementation, Inno warned.

The new agreement is part of Inno's artificial intelligence strategy, which it launched in April. The strategy is aimed at improving the operational efficiency of the electronics trading business, in particular the company plans to develop AI-based data analysis tools as well as product quality assessment systems, it reported.

Retail is a relatively new area for Inno. It initially focused on building technology, but announced in December 2024 that it would expand operations. In the second quarter of 2025, it got rid of the construction business and focused on used gadgets.

The company buys them back, tests them, repairs them and sells them - both wholesale and retail. It is going to launch an online store with electronics for newborns and create two platforms - one for supply chain management and one for sales, according to the website.

Last quarter, Inno's revenue increased nearly 95% year-over-year to $391,900, while its net loss more than tripled to $1 million.

Since the beginning of the year - including the June 8 rally - Inno's quotes have jumped 52%, yet over the past 12 months they are down nearly 94%.

To raise the stock price, the company has done a reverse split twice in six months. The first time, in December 2025, it merged 24 securities into one to avoid delisting - Nasdaq rules require that the stock be worth at least $1. But quotes collapsed again, forcing Inno to merge the securities again in April - 20 into one. On June 5, one trading day before the rally, their value barely exceeded $1.