The company said that its board approved a share buyback of up to $5 million.
Shares of Guardforce AI Co (GFAI) surged more than 43% in pre-market trading on Friday, after the company said that its board of directors approved a share repurchase program, authorizing the company to buy back up to $5 million of its outstanding ordinary shares.
The program is effective immediately and will remain in place for up to one year, the company added.
Guardforce said the move reflects its belief that the current market price does not fully capture the value of its logistics operations and the long-term growth potential of its AI-driven automation and robotics business.
“At current market levels, we believe our shares represent compelling long-term value. This program allows us to act opportunistically while continuing to invest in growth,” said Guardforce Chairwoman and CEO Lei Wang.
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