Bids Edge Higher During Tuesday's Premarket For This Micro Cap

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, September 13, 2022

A Singapore-based micro cap saw some interested premarket activity after it was announced that the company has signed a non-binding letter of intent with Shenzhen Intelligent Guardforce Robot Co., Ltd to acquire Shenzhen Kewei Robot Technology Company Limited. This sent shares of Guardforce AI Co. Limited (Nasdaq:GFAI) higher during Tuesday’s premarket.

Guardforce AI Co Ltd is a provider of cash solutions and cash handling services located in Thailand. The company engages in the cash logistics business, and its services include cash-in-transit, or CIT, dedicated vehicles to banks, ATM management, cash center operations, cash processing, coin processing, cheque center, and cash deposit machine solutions (cash deposit management and express cash service). Its customers include local commercial banks, chain retailers, coin manufacturing mints, and government authorities.

As previously mentioned, this announcement caused traders to bid up this micro cap this morning, as shares of GFAI are bid up at $0.335/share (+8.06% implied open for sellers) at the time of writing. This event could be the spark that this stock needs to break out of its multi-month trading range.

Copyright © 2022 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.