Rekor Systems, Inc. (REKR) saw a significant surge in its stock price on January 6, 2025, closing at $2.41, up 31.69% from the previous close of $1.83. The stock opened at $1.86 and reached a high of $2.58 during the day, with an extraordinary trading volume of 27,295,666 shares, far exceeding the average daily volume. The sharp rise was primarily driven by the announcement that Rekor had fully satisfied a $15 million outstanding balance under its Prepaid Advance Agreement with Yorkville Advisors Global by December 31, 2024. This move was perceived positively by investors as it enhances Rekor's financial flexibility and reduces future interest expenses, signaling strong cash flow management and operational performance.
Additionally, Rekor announced the expansion of its technology deployment with the New Mexico Department of Transportation (NMDOT), further boosting investor confidence. The NMDOT's expanded use of Rekor Discover™ and Edge Series systems marks a significant milestone, showcasing the scalability and effectiveness of Rekor's AI-driven traffic analytics technology. This expansion is part of a broader trend of adoption across multiple U.S. states, highlighting the growing impact of Rekor's solutions in modernizing traffic data collection.