Cybernetic Technologies Ltd. (OTCMKTS:HPIL) Stock Takes a Sharp Hit: Here is Why

On Tuesday there was no news about Cybernetic Technologies Ltd. (OTCMKTS:HPIL) but the company’s stock suffered from a heavy selloff nonetheless and ended the day with a decline of as much as 53%.

The decline in the stock remains a bit of a mystery at this point in time but it might be a good idea for investors to take a look at a key development with regards to HPIL form back on August 11. On that day, the company announced that the application that it made to the OTCIQ had been approved and it had been made effective right away.

Stephen Brown, who is the Chief Executive Officer of the company, stated that HPIL Holding was going to remain as the parent company to the different divisions of the company. Those divisions include Medusa Artificial Intelligence, Apogee Dynamics, World Gaming Group, Cybernetic Technologies and NFT Procurement.

Brown went on to state that the company managed to accomplish a lot within a short span of time and added that HPIL was going to continue to be transparent in the future despite being aggressive with its business. It now remains to be seen if the stock can make a recovery through the course of the week.