Guardforce AI Stock Is Tanking After Hours: What's Going On?

Guardforce AI Co GFAI shares are plunging in Tuesday's after-hours session after the company proposed an offering.

What Happened: Guardforce AI commenced an underwritten public offering after the close. The shares are being offered by the company pursuant to a "shelf" registration statement declared effective by the SEC on Jan. 5, 2022.

The size and the price of the offering were not disclosed. 

Guardforce AI is an integrated security provider specializing in secured logistics, AI and Robot-as-a-Service (RaaS). The stock has soared in recent months amid a surge in popularity in AI-related names.

See Also: Uber CEO On What's Driving Accelerated Growth, Timetable For Profitability, AI Potential

GFAI Price Action: Guardforce AI has a 52-week high of $36.89 and a 52-week low of $3.81, according to Benzinga Pro.

The stock was down 52.1% after hours at $5.60 at the time of writing.

Photo: Lukas from Pixabay.