CloudMD Software & Services Inc (OTCMKTS:DOCRF) Stock Continues to See Selling Pressure: Here is Why
CloudMD Software & Services Inc (OTCMKTS:DOCRF) stock saw selling pressure on Tuesday as investors preferred to book profit at higher level. The stock is down 33% so far this year.
Market Action
In the previous trading session, DOCRF stock decreased 3% to $1.24. A total of 79K shares traded for the session hands, above its average volume of 113k shares. The stock opened at $1.25 and moved in a range of $1.2300 – 1.2800.
Key Trigger
CloudMD Strengthens Board with New Director Nominations and Announces Change of Auditors
CloudMD Software & Services announced that the Company will be nominating two new, experienced business leaders to its Board of Directors for the 2021 annual general meeting of shareholders scheduled for November 9th, 2021. The new Board of Directors will consist of five directors, including two new nominees for election.
Mr. Hannay is currently the Chief Executive Officer of the Ontario Lottery and Gaming Corporation (“OLG”) and brings more than 25 years of experience growing businesses across industries, channels and locations around the world. Before joining OLG, he was President and CEO of Street Capital Group Inc, a Canadian public company offering best-in-class retail banking products through its Schedule I bank platform. He previously served as Chief Operating Officer at Finastra, a global leader in software solutions for retail banking, transaction banking, lending, and treasury and capital markets.
He also served as an executive leader at the Canadian-based financial technology provider D+H, as President of Global Lending Solutions and as President of D+H Canada. In addition, Duncan has held senior executive positions with global financial services providers Scotiabank and E*TRADE Financial. Mr. Hannay holds a Bachelor of Engineering degree from McMaster University.
Key Quote:
Dr. Essam Hamza, CEO of CloudMD commented, “We are thrilled to welcome Duncan and Karen to our Board of Directors as their collective experience and leadership will be extremely valuable to the continued growth of our Company. Their experience in governance, advisory, and executive leadership strengthens and complements our incumbent Board of Directors. Each of these outstanding individuals brings valuable expertise and insight that will help position CloudMD for long-term success as an innovative healthcare company.”