Guardforce AI (NASDAQ:GFAI) may not be a household name among AI stocks, but they’re rapidly working to get there. And now, thanks to a newly-inked deal with Concorde Security, Guardforce AI is that much closer to becoming a readily-recognized name. Just ask investors, who sent Guardforce AI stock up over 68% at one point in Thursday afternoon’s trading.
Guardforce AI specializes in security. Not only does it offer secured logistics services, but it also can offer Robot-as-a-Service (RaaS) programs and even some AI work. Now, it’s connected to Concorde Security to establish a new robotics-heavy security solution in Singapore. Guardforce AI will offer up a concierge robot that can manage inflow and outgo into buildings by registering individual visitors and tracking their whereabouts as well. Plus, Guardforce AI will take a line of robots originally meant as disinfection tools and refit them to be used as patrol units. The newly-refitting robots will upload the footage they generate to cloud-based storage around the clock.
This is great news for Guardforce AI, who recently saw shares tumble after putting up a public offering that put shares at $4.65 per share. The move was designed to raise roughly $12 million, while giving the underwriters access to as many as 387,000 shares beyond that. At the time, share prices were down roughly 25%, but they’ve come back since then, as what some call an “AI supercycle” is taking place.
For Guardforce AI itself, the news came at a good time, evne if the results didn’t last. Looking at the last five days of trading in Guardforce AI stock, an unnerving pattern emerges. Most of the last five days showed Guardforce stock on the decline, until two sudden spikes intervened. The impact of those spikes, however, was quickly lost, and the stock returned to normal, on a more gradual downward slide.
