Guardforce AI Co., Limited (GFAI) stock gained in the current market after announcing its plan to expand RaaS to China in the press release. The stock of GFAI was valued at $1.82, gaining more than 73.33% from the previously closed value. At the end of the last trading session, the stock closed at $1.05. The stock volume traded in the last trading session was around $385.93K shares.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Reason for the GFAI stock gain
Guardforce AI Co., Limited (GFAI) announced today in a press release that they are planning to acquire Shenzhen Keweien Robot Service Co., Ltd (SZ) and Guangzhou Kewei Robot Technology Co., Ltd (GZ) to expand its Robotics as a Service (RaaS) offering. They expect that the acquisition will complete in the last of Feb 2022.
According to the deal, the acquisition will be mix mode of payment. 10% will be cash, and 90% will be the restricted shares of the company. The valuation of both the companies is decided based on the previous five year’s revenue.
The acquisition reflects the company’s vision to acquire those tech companies that are the leaders in their respective fields. It will benefit the company’s expansion and help them increase their market share. SZ and GZ revenue gain their revenue from the AI robotics services. They have a vast clientele based in different industries, which will increase the company’s revenue.
Effect on the stock
As soon as the news hit the market, the value of Guardforce AI Co., Limited (GFAI) stock soared in the current market. China is moving fast to adopt AI robots in different industries. Seeing this opportunity, the company has taken this step to expand RaaS to China. Investors are responding positively to the company’s strategic plan, due to which its stock gained significantly in the current market.
Conclusion
Guardforce AI Co., Limited (GFAI) is exploring a new market with cutting-edge technology. It will help them grab new market share and reach new customers to increase their revenue.
