CNXA....Just a reminder that what the Co. does &what the share price does are 2 separate functions....so what I'm saying is.....this just might turn out to be a winner in terms of Capital appreciation
This has a good share structure....JMHO
Connexa Announces Overwhelming Demand for Pickleball Launcher
2023-10-06 04:45 ET - News Release
- Connexa Sports’ newest portfolio product has received high acclaim from Pickleball enthusiasts.
- The Slinger Bag Pickleball Launcher delivers initial $1 million in sales revenue and selling out multiple times since launching this past April
- Pickleball Launcher has filled an unmet need for the fastest growing sport of Pickleball with entry of nearly 36.5 million Pickleball players in the US1
BALTIMORE, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Connexa Sports Technologies Inc. (NASDAQ: CNXA) (www.connexasports.com) is pleased to announce that its flagship consumer brand, Slinger Bag (www.slingerbag.com), has seen an extremely strong consumer demand for its latest product innovation in Pickleball, which, at this current rate of sale will soon rival that of its tennis counterpart, which debuted in late summer 2020 and has seen cumulative sales in excess of $30 million.
Successful in tennis as a result of its disruptive, transportable, versatile and affordable Slinger Bag Launcher, the company has now mirrored that success with its Pickleball Launcher. Pickleball is widely regarded as one of the fastest growing sports in the USA with over 36 million players, growing at an average of 159% over the last three years. The sport, mainly played in doubles, is highly social and easy to play. It is popular amongst both men and women, with the largest age bracket being between 18 to 35 years old2.
The positive participation growth experienced across all racquet sport categories over the past few years is a trend that Connexa Sports set out to capitalize on, led in-market by its innovative Ball Launchers. By creating affordable consumer products for tennis and pickleball enthusiasts of all ages and abilities, the company’s goal is to attract new players to these sports, while also supporting lifelong amateurs, rising juniors, and professional athletes alike. Connexa’s robust market testing and seeding of its new Pickleball Ball Launcher with avid players, and coaches provided the validation required prior to its official commercial launch. Consumer demand has grown month-to month ever since.
“We are thrilled with the results we are now experiencing from our new Pickleball Ball Launcher. All market indicators, coupled with the rapid growth in Pickleball participation, told us we had another winning product in our portfolio,” said Mike Ballardie, CEO of Connexa Sports. “We are extremely pleased about the user feedback on its performance and we expect this to continue as more people experience the product themselves at their local Pickleball facility. Our expectation is that the growth of Pickleball continues unabated. As always, we are using everything that we learn from our early adopters in Pickleball to mirror the success of Slinger Bag, already seen in tennis. Our success will be built on a strong understanding of the consumer and an unwavering focus on delivering to them what they need and want.”
“Pickleball represents an incredibly exciting opportunity for all sports businesses from a commercial perspective, and our goal is to once again position Connexa and this Ball Launcher as a must-have product for all players,” concluded Ballardie.”
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About Connexa Sports Technologies:
Connexa Sports a leading connected sports company delivering products, technologies, and Sport-as-a-Services across a range of sport verticals. Connexa’s mission is to reimagine sports through technological innovation driven by an unwavering focus on today’s sports consumer.
Contact Information:
investors@connexasports.com(443) 407-7564
www.connexasports.com
Forward-Looking Statements
This press release contains “forward-looking statements” (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange