KWESST Micro Systems Inc. (OTCMKTS:KWEMF) (TSXV:KWE) Stock Continues to Trade Lower: Down 45% In a Month
KWESST Micro Systems Inc. (OTCMKTS:KWEMF) (TSXV:KWE) dropped 14%, and the stock is down 45% in a month. The company has released the 2022 SHOT Show results.
Market Stats
On Friday, KWEMF stock decreased by 11% to $0.5268 with more than 51K shares, compared to its average volume of 21K shares. The stock has moved within a range of $0.4924 – 0.5800 after opening trading at $0.758.
KWESST Reports on PARA OPS Showcase at SHOT Show 2022
The show took place in Las Vegas between January 18 and January 21, where the company demonstrated and showcased its multiple-shot and single-shot PARA OPS non-lethal personal defense products. KWESST also displayed its recently acquired ARWEN product line samples. CEO Jeff MacLeod stated that the SHOT Show validated the interest in the company’s non-lethal PARA OPS products and technology as anticipated.
The show was held amid recent reports indicating that the violent crime rate increased significantly in the US last year, including violent assaults, homicides, and property crime incidents. With the crime rate surging in several communities in 2021, there is a need for an effective and non-lethal system of helping law enforcement carry out their daily duties. KWESST is anticipating that its latest PARA OPS offering will change non-lethal defense and wider law enforcement. So, in the coming weeks, investors should watch KWEMF.
Key Quote
“As expected, the SHOT Show confirmed strong interest in our non-lethal PARA OPS technology and products,” said Jeff MacLeod, Founder, President, and CEO of KWESST.
Traders Corner
KWEMF stock is trading below the 20-Day and 50-Day Moving averages of $0.79 and $1.09 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.23.
