Shares of Duos Technologies Group, Inc. (DUOT) are moving down about 14 percent on Friday morning trading following the announcement of a non-binding letter of intent with Hydra Host, and appointment of Doug Recker as Chief Executive Officer, effective April 1, 2026.
The company's stock is currently trading at $7.47, down 14.93 percent, over the previous close of $8.79 on the Nasdaq. It has traded between $3.84 and $12.17 in the past one year.
The partnership aims to deploy a high-density NVIDIA GPU cluster for a leading global technology customer. Also, the company has entered into a non-binding letter of intent for a ground lease in Iowa with access to up to 10MW of utility power, establishing a strategic high-density deployment site.
The company noted that Recker will succeed Chuck Ferry, who will continue to serve as a member of the board of directors.
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