Arrive AI Inc. (NASDAQ:ARAI) CEO Daniel Steven O'toole Sells 434,672 Shares

Arrive AI Inc. (NASDAQ:ARAI - Get Free Report) CEO Daniel Steven O'toole sold 434,672 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $13.85, for a total value of $6,020,207.20. Following the completion of the sale, the chief executive officer now directly owns 23,143,909 shares of the company's stock, valued at approximately $320,543,139.65. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arrive AI Stock Down 16.8%

ARAI traded down $1.57 during midday trading on Friday, hitting $7.75. The stock had a trading volume of 945,693 shares.

Analyst Ratings Changes

Separately, Wall Street Zen raised Arrive AI to a "hold" rating in a research note on Saturday.

Arrive AI Company Profile

We were incorporated on April 30, 2020, in the State of Delaware under the name of Dronedek Corporation. The Company changed its name to Arrive Technology Inc on July 27, 2023. The Company changed its name to Arrive AI Inc on September 30, 2024. We are a developmental technology company with a focus on designing and implementing a commercially viable smart mailbox and platform system for smart, secure, and seamless exchange of packages, goods, supplies, food, and medications between people, through the use of robots, and drones.