ZenaTech's stock is experiencing a decline today following the announcement of its acquisition of Weddle Survey Inc., a land survey engineering company. This acquisition is intended to form the base of ZenaTech's Northwest US Drone as a Service (DaaS) operations, focusing on integrating drone technology into land surveys and developing solutions for wildfire management using drone swarms. Despite the strategic move, the market reaction appears muted, possibly due to the early stage of the integration process and the challenges associated with transitioning traditional surveying methods to drone-based solutions.
The acquisition is part of ZenaTech's broader strategy to expand its DaaS operations, leveraging AI and quantum computing technologies to enhance efficiency and precision in land surveying and fire management applications. The company aims to offer businesses the benefits of drone technology without the need for purchasing equipment or obtaining certifications, through a convenient pay-as-you-go model. However, the market may be cautious as the company embarks on this ambitious expansion plan, which includes approximately 20 planned acquisitions to build a national DaaS business.
ZenaTech's stock is currently priced at $6.10, down 3.17% from the previous close of $6.30. The stock opened at $6.53 and has fluctuated between a high of $6.59 and a low of $6.07. Despite being early in the trading day, the volume is relatively low at 565,983 shares, representing just 9.78% of the average daily volume of 5,785,888.