ZenaTech, Inc. (ZENA) saw its stock decline by 4.38% on January 17, 2025, closing at $6.12, down from the previous day's close of $6.40. The stock opened at $6.55, which was also the day's high, but quickly lost ground, hitting a low of $6.03. The trading volume was significantly below average, with only 203,966 shares changing hands, representing just 3.52% of the typical daily volume of 5,789,491 shares.
The decline in ZenaTech's stock price followed the announcement of its acquisition of Weddle Survey Inc., an Oregon-based land survey firm. This acquisition is part of ZenaTech's strategy to enhance its Drone as a Service (DaaS) operations in the Northwest US, focusing on integrating drone technology into land surveys and developing solutions for wildfire management. Despite the strategic intent behind the acquisition, the market's cautious reaction may be attributed to the challenges of transitioning traditional surveying methods to drone-based solutions and the early stage of the integration process.