Guardforce AI Co., Limited (GFAI), Friday announced that its Board has approved a share repurchase program to purchase up to $5 million of the company's outstanding ordinary shares.
The program, which will be effective immediately and continue for up to one year from today, intends to utilize disciplined capital allocation to help enhance this long-term value.
It also reflects the company's belief that its current market valuation does not fully reflect its intrinsic value, including the strength of its legacy secured logistics business and the long-term potential of its AI business.
In the pre-market hours, GFAI is trading at $0.5599, up 27.91 percent on the Nasdaq.
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