Cyngn, Inc. (CYN) Stock Declining in Aftermarket, Here’s Why – Invest Chronicle
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Cyngn, Inc. (CYN) Stock Declining in Aftermarket, Here’s Why

 Cyngn, Inc. (CYN), an autonomous vehicle technology company, has declined 0.69% in aftermarket trading sessions and consequently is trading at $1.44 with a trading volume of 4,570 shares at the time of the writing. During Friday’s regular trading session, the stock slightly declined by 1.36% and closed the day at $1.45. The most recent news from the company was regarding its participation in a virtual conference.

Presentation by CYN Management

On 10th February, CYN announced that the management of the company is scheduled for a presentation at the Aegis Capital Corp. virtual conference. The presentation was to take place on 23rd February 2022, i.e. Wednesday. The conference would span three days, commencing from 23rd February 2022. The company said that the presentation and accompanying slides could be found at its website’s investor relation section.

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Appointment of Vice President HR

On 24th January, CYN announced the appointment of Marc Brown as Vice President of Human Resources. Marc has experience of over 20 years in the optimization of business results. The company said that Marc would play a crucial role in providing support to the company’s plans intended for rapid growth. CEO of Cyngn Lior Tal welcomed his induction and said that his expertise would be critical for the success of the company.

Stockchasers Production

In mid-January, CYN reported that it had started the production of automatic Columbia Stockchasers. Columbia Vehicle Group was also a part of the venture. The stock chasers were to be powered by Cyngn’s Enterprise Autonomy Suite. The company said that the production of an autonomous vehicle fleet would enable it to make available self-driving solutions to a wide range of customers. The fleet of vehicles would be equipped with state-of-the-art technology, according to the company.

Future Outlook for CYN

Looking toward what’s out there in store for CYN, the analysts believe that the stock holds several negative technical signals at this point, and hence, it is expected to perform weakly in the next couple of weeks. Potential investors should make a careful decision regarding their investments.

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