Wrap Technologies falls on CEO change, lower prelim Q1 revenue

Wrap Technologies

18/04/2023 17:01

** Shares of security tech developer Wrap Technologies
 WRAP.O  slide 4.8% to $1.29
    ** Announces immediate appointment of Kevin Mullins as CEO,
after TJ Kennedy agreed to step down from the top role and as a
member of the board
    ** Kennedy was appointed CEO on April 18, 2022
    ** WRAP also reports preliminary Q1 revenue between $0.60
mln and $0.70 mln vs reported revenue of $1.6 mln a year ago
    ** Decline in Q1 revenue primarily due to timing of new
orders being delayed until later in 2023 - co
    ** WRAP down about 23% YTD

 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))