Lixte Biotechnology Holdings, Inc. (LIXT) shares fell 5.78 percent to $5.89, down $0.36 on Monday, even after the company announced a strategic transformation from biotechnology into an AI energy infrastructure equipment and services platform.
The stock is currently trading at $5.89, compared with a previous close of $6.25 on the Nasdaq. It opened at $6.45 and traded between $5.80 and $6.50 during the session, with volume of 497,407 shares compared with the average daily volume of 59,433 shares.
LIXTE Biotechnology Holdings said it plans to focus on providing power infrastructure solutions for AI and hyperscale data centers, citing rapidly growing electricity demand driven by artificial intelligence workloads and data-center expansion.
As part of the transition, Stuart Porter will join the company's board of directors.
LIXTE shares have traded between $0.64 and $6.50 over the past 52 weeks.
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