The trend of under-the-radar stocks shooting up has continued today with a little-known IT company seeing significant gains. Guardforce AI (NASDAQ:GFAI) may not see too much media coverage, but it is a leader in the field of integrated security solutions. Today brought the announcement of multiple strategic partnerships for the company and it didn’t take long for GFAI stock to start climbing.
Since trading began, shares of GFAI stock have declined slightly from the early morning spike. As of this writing, though, they are up more than 25% for the day and seem to be regaining their previous upward trajectory. Most of this week saw shares flatline before today’s rally that sent them up by more than 65%. This morning’s gains have GFAI in the green by more than 30% for the past five days.
What else should investors know about this company as its stock continues to rise? Let’s find out.
GFAI Stock: What to Know
- Part of the reason for Guardforce’s little-known status is that it’s a relatively new company. Founded in 2018, it is based in Bangkok, Thailand.
- The strategic partnership announcement centers around an agreement with MZ Group, an investor relations and corporate communications specialist with international reach. According to the released statement, it is part of the company’s initiative to launch a “comprehensive strategic investor relations and financial communications program across all key markets.”
- That isn’t the only development, though. Guardforce also announced that it will be appointing PFK Littlejohn LLP as its primary independent registered public accounting firm. Its duties will involve performing an interim review for June 30, 2021 and auditing for the 2021 financial year.
- As a company, Guardforce operates three business units — Guardforce Cash Solutions Security, Guardforce AI and Handshake Networking, one of Hong Kong’s leading It consultancies since 2004.
- Guardforce may not be well known in the U.S. but its reach in Asian-Pacific markets is significant. According to its website, the company’s services are delivered through 21 branches and 478 secured vehicles.
- The company is also expanding into the area of robots as a service. Guardforce thinks that this technology has the potential to change the way in which organizations operate through AI solutions. It is working on introducing it into sectors such as hospitality and and public transportation hubs.
- Guardforce is focused on helping clients adapt to new technologies and continue smooth and safe operations as the Asian-Pacific business landscape continues to evolve. Recent clients include Thailand’s Ministry of Industry.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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