Transportation and Logistics Systems Inc (OTCMKTS:TLSS) Stock Falls After Recent News
One of the companies that saw its stock take a bit of a pounding on Thursday was Transportation and Logistics Systems Inc (OTCMKTS:TLSS) as its stock ended the day with a decline of as much as 6% amidst a selloff. As it happens, the company was actually in the news yesterday and it may be a good idea to take a closer look at the development.
Trading Data
On Thursday, TLSS stock slumped 6.38% to $0.0044 with more than 15.83 million shares, compared to volume of 6.09 million shares. The stock moved within a range of $0.0043 – 0.0050 after opening trade at $0.0050.
TLSS Hires Jill Czerniak as Its Director of Employee Support and Development
The company announced that back on October 18, 2022, Jill Crezniak joined the company in the capacity of Director of Employee Support and Development. It was a major new appointment from the company but it appears that investors were not particularly happy with it and that led to the selloff in the stock.
The Chairman and Chief Executive Officer of the company Sebastian Giordano spoke about the rationale behind the latest appointment. He noted that Transportation and Logistics Systems was trying to reimagine the ways in which ‘HR development’ could be undertaken.
Hence, it had been decided that it was the responsibility of the company to establish the career development pathway and employee support which could harness excellence. It remains to be seen if the Transportation and Logistics Systems can bounce back today.
Key Quote
According to Mr. Sebastian Giordano, Chairman and Chief Executive Officer of TLSS, “One of my goals for the Company has been to reimagine the traditional perception of the ‘HR department’. To me, the label just doesn’t fit the opportunity to recruit and develop talent, especially in such a highly fragmented, competitive and challenging industry. As a result, it is incumbent upon us to create the type of employee support and career development path that will clearly differentiate the Company. We are therefore excited about Jill’s joining our team. She not only has the depth of experience that is ideally suited and required for our growth plans, but the type of can-do attitude and open-minded approach necessary to revolutionize the department.
Technical Data
TLSS stock is trading below the 20-Day and 50-Day Moving averages of $0.0053 and $0.0060 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0081.
