It was not a great day for the Artificial Intelligence Technology Solutions (OTCMKTS:AITX) stock on Thursday as the stock tanked by 4%. The fall in the stock price came after the company announced that it appointed Jeffrey Slotnick as the new Chairman of the Board of Advisers at its fully owned subsidiary company Robotic Assistance Devices.
In this regard, it should be noted that the actual announcement was made during the course of RADCON conference that had been hosted by Robotic Assistance Devices back on Wednesday at its manufacturing plant located in the Detroit metropolitan area.
However, in this regard, it is necessary to point out that it is difficult to see why the market has reacted negatively to this particular appointment. Slotnick is a seasoned professional in the enterprise security risk consultation space and his experience in that space spanning more than three decades.
On the other hand, he is also a lead auditor who has ISO credentials and has been highly influential towards the advances that have been seen in All Hazards Disaster Resilience, Organizational Resilience Management in recent times. In light of the latest drop in stock price, it is going to be interesting to see if he stock can actually make a recovery today.
Market Reaction:
On Thursday, AITX stock fell 4.15% to $0.0566 with more than 55 million shares, compared to its average volume of 51.37 million shares. The stock has moved within a range of $0.0550 – 0.0593 after opening the trade at $0.0590 Over the past 52-week, the stock has been trading within a range of $0.0010 – 0.2899.
 Stock Is Down 8% This Week: Will it Rebound?){kind=link}