Rekor Systems, Inc. (REKR) is experiencing a notable surge in its stock price today, driven by a combination of speculative interest and potential contract developments. On Reddit, users are actively discussing the company's prospects, with one user highlighting, "They already have a contract with 3 states, the most interesting and lucrative will be Florida." There are also rumors circulating about Rekor being in the final stages of securing another significant contract with a major state, although official announcements are pending. This speculation is fueling optimism among retail investors, as evidenced by comments like "Just bought 1000 shares let's go!" and "I noticed it was bottoming out too. Got 1800 shares at $0.84."
Adding to the excitement, Rekor has been the target of unusually large options trading, with investors acquiring 3,709 call options, marking a 936% increase compared to typical daily volumes. This heightened activity suggests that traders are betting on further upward movement in the stock. Furthermore, the company's recent financial performance, including a 45% revenue increase in Q2 2024, has bolstered confidence in its growth trajectory. Despite being just a few hours into the trading day, Rekor Systems' stock has already seen an extraordinary volume of 12,464,764 shares traded, representing a staggering 1,140.53% of its average daily volume of 1,092,896 shares.