Wrap Technologies Inc. (WRAP) shares rose 7.53% in after-hours on Friday, July 2, 2021, and closed the weekly trading at $8.00 per share. Earlier in the morning session on Friday, WRAP’s stock lost 2.49% to close Friday’s session at $7.44 per share. WRAP shares have fallen 33.27% over the last 12 months, and they have moved down 10.47% in the past week. Over the past three months, the stock has gained 38.81%, while over the past six months, it has declined 54.04%.
Let’s see what are the recent news and developments about WRAP?
New appointment
On July 02, 2021, Wrap Technologies, Inc. appointed Glenn Hickman as Chief Operating Officer. Hickman will work closely with the growing engineering and operations teams to continue building out WRAP’s product lines. Woody Norris, the inventor of the BolaWRAP, retired as CTO at the end of June and will continue to play an active role at WRAP as a strategic consultant focusing on innovations.
WRAP Reality Virtual Training Platform was chosen by Princeton Police Department
On June 30, 2021, the Princeton Police Department in New Jersey selected the WRAP Reality Virtual Training Platform to deliver the latest simulator training technology to Princeton’s police officers.
Princeton PD will now have access to WRAP Reality’s robust, cutting-edge training scenarios and technological innovation.
2021 Virtual Annual Meeting of Stockholders
Wrap Technologies held its shareholders’ annual meeting virtually on June 22, 2021, at 9:00 A.M. Pacific Time.
Expiration of Warrants
On June 21, 2021, Wrap Technologies, Inc announced that the exercise period of warrants issued in connection with the Company’s 2019 offering of units consisting of common stock and warrants expired on Friday, June 18, 2021, and unexercised warrants are no longer exercisable.
In 2019, the Company issued 1,923,076 warrants to participating investors, each exercisable at $6.50 per share, and 153,846 warrants to the placement agents for the 2019 Unit Financing, each exercisable at $8.125 per share. The company received $12.05 million of these proceeds this fiscal quarter to date ending on June 30, 2021.
Participation at United Kingdom Healthcare’s Restraint & Safety Conference
Wrap Technologies, Inc was a featured presenter at Healthcare Conferences UK’s first international conference of the Safety Without Compromise Expert Group. The event held virtually on June 17, 2021.
WRAP President & CEO Tom Smith led the discussion entitled “Restraint & Safety” to discuss methods for safer use of force, including the Company’s BolaWrap® Remote Restraint device.
Demonstration of the BolaWrap®
On June 11, 2021, Wrap Technologies, Inc demonstrated the BolaWrap for the Miami Police Department followed by a second demonstration at Miami’s City Hall for the City Commissioners, Miami Mayor Francis Suarez and local media.
Mayor Suarez experienced the BolaWrap technology for himself when WRAP Master Instructors deployed the device at the Mayor, successfully double-wrapping his legs, at the City Hall demonstration.
Conclusion
We have only one recent news which is the new COO announcement which may or may not be the reason behind its flip on Friday. Let’s see how it opens the new week after the long weekend.
