Wrap Technologies Inc. (WRAP) shares were falling -30.10% to trade at $2.74 in the current market at last check. Wrap Technologies (WRAP) stock closed the previous session at $3.92. The volume of WRAP stock remained at 0.45 million shares, which was higher than the average daily volume of 0.25 million shares within the past 50 days. WRAP shares have fallen by -24.03% over the last 12 months, and they have moved down by -3.21% in the past week.
Over the past three months, the stock has lost -33.22%, while over the past six months, it has shed -41.49%. Further, WRAP has a current market of $162.29 million and its outstanding shares stood at 40.41 million. WRAP stock is falling after announcing a leadership transition plan.
How WRAP the executives will change?
Wrap Technologies (WRAP) is a worldwide innovator in inventive public security advancements and administrations. WRAP creates savvy fixes to complex issues and engages public security authorities to ensure and serve their networks through its arrangement of cutting-edge innovation and preparing arrangements.
BolaWrap is a protected, hand-held pre-heightening and dread apparatus by Wrap Technologies (WRAP) that releases a Kevlar tie to briefly limit uncooperative suspects and people in an emergency from a good way. Wrap Reality, the Company’s augmented reality preparing framework, is a completely vivid preparation test system and thorough public security preparing stage.
Wrap Technologies (WRAP) today reported authority progress intended to help the following period of its corporate procedure. WRAP settled on the choice zeroing in on enhancing the Company’s set-up of items, contributions, and administrations. The arrangement accommodates the accompanying:
- CEO Tom Smith will venture down as a component of a commonly settled-upon partition.
- CFO Jim Barnes will be resigning before the year’s over.
- Smith and Barnes are not leaving a direct result of any conflicts or basic business issues.
- Everyday tasks at Wrap Technologies (WRAP) will be driven by an interval supervisory group that incorporates L. W. Varner, Jr., who will fill in as Principal Executive Officer.
- Lawrence Hirsh will fill in as Senior Advisor for monetary issues, and Glenn Hickman, who is presently Chief Operating Officer will stay in his job forever.
- Mr. Barnes will stay in the job of Chief Financial Officer until his formal retirement.
- The interval supervisory crew will be upheld and managed by a Special Transition Committee of the Board of Directors (the “Board”) that incorporates chiefs Scot Cohen and Kim Sentovich.
- The Wrap Technologies (WRAP) Board will run a proper interaction to recognize exceptionally qualified contenders for the Chief Executive Officer and Chief Financial Officer jobs.
- The Board has selected chief Wayne Walker as its new Chairman, supplanting Patrick Kinsella.
- Mr. Kinsella and Jeff Kukowski are venturing down from the Board, as of now.
Why WRAP is changing management?
Wrap Technologies (WRAP) has huge chances to develop and scale as the addressable market for public wellbeing innovations and administrations keep growing. To exploit these open doors, WRAP needs to expand on its current establishment by differentiating a blend of items, contributions, and administrations past BolaWrap and Wrap Reality.
