While it is true that microcap stocks may not sometimes move for days, it should be noted that those stocks can also make big moves in case of positive triggers. If you are currently looking into microcap stocks then it may be a good time to start tracking the Guardforce AI (NASDAQ:GFAI) stock, which emerged as one of the major gainers on Friday and ended up with gains of as much as 53%.
Trading Data
On Friday, GFAI stock rose 54.29% to $1.62 with more than 142.44 million shares traded, compared to its average volume of 4.93 million shares. The stock has moved within a range of $1.1300 – 2.1600 after opening trading at $1.1300.
Guardforce AI Plans to Expand Robotics as a Service (RaaS) to China’s Greater Bay Area
The trading volume in the stock had also gone up considerably amidst heavy interest from investors. The security solutions company is one of the leaders in its industry and after a tough few months, the stock has made a strong comeback.
Actually, this past Friday the Guardfroce stock came into focus after the company announced that it was going to enter the ‘robotics as a service’ industry by way of a pair of acquisitions. One of those is Shenzhen Keweien Robot Service Co., Ltd and the other is Guangzhou Kewei Robot Technology Co., Ltd. Both those companies are major players in the industry and hence, the excitement among investors is perhaps understandable. It remains to be seen if the stock can hold on to its momentum in the coming week.
Key Quote
Lei Wang, CEO of Guardforce AI, commented, “This strategic acquisition is emblematic of Guardforce AI’s growth strategy of acquiring successful companies that are leaders in their field. This development is expected to contribute to our goal of scaling operations while providing swift entry into highly evolving markets. China’s surging focus in robotics development and AI applications makes this proposed acquisition a natural fit for us. As a result of this proposed acquisition, we will gain an incredibly experienced and established sales team. Upon the completion, SZ and GZ will benefit from Guardforce AI’s global scale and presence, allowing them enhanced international opportunities.”
Technical Data
GFAI stock is above the 20-Day and 200-Day Moving averages of $1.25 and $1.48 respectively. Moreover, the stock is trading below the 50-Day moving average of $2.01.
