Here's Why Iveda Solutions Shares Are Falling

Iveda Solutions Inc IVDA shares are trading lower by 21.24% at $2.41 as the stock pulls back after surging Monday following the launch of Utilus.

Iveda Monday said Utilus brings together all of Iveda's smart city technologies including video surveillance, AI-based video analytics, IvedaSPS (smart power system) and IvedaPinpoint's location-based trackers and smart sensors, into a centralized management platform.

"Our smart city technologies are the culmination of almost two decades of product development and experience in providing cloud-based solutions," said David Ly, CEO of Iveda. "Utilus adds a new level of security, safety and management tools for smart city initiatives. Whether it is instantly identifying and reporting a car accident or recognizing a vehicle with a potential abducted child, seconds matter."

Iveda Solutions is engaged in offering real-time IP video surveillance technologies. The company provides IoT sensors and devices for various applications such as energy management, smart home, smart building, smart community and patient and eldercare.

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Iveda has a 52-week high of $19.52 and a 52-week low of $2.09.