Rekor Systems, Inc. is experiencing a decline in its stock price today, despite announcing a strategic partnership with SoundHound AI to enhance emergency vehicle technology. The collaboration aims to integrate SoundHound's voice AI with Rekor's vehicle recognition software, Rekor Scout®, to provide hands-free operation of critical vehicle systems for law enforcement and first responders. This initiative is expected to improve safety and operational efficiency by enabling voice-controlled management of systems such as automatic license plate recognition (ALPR), emergency light bars, and sirens. The partnership targets a significant market opportunity, with approximately 100,000 police vehicles purchased annually in the U.S.
Despite the positive news, Rekor's stock has seen a decrease, opening at $1.85 and dropping to a current price of $1.56, marking a 2.19% decline from the previous close of $1.60. The stock has experienced significant volatility, with a high of $1.94 and a low of $1.56 so far today. Despite being early in the trading day, the volume has reached 6,875,402 shares, representing 146.77% of the average daily volume of 4,684,420 shares, indicating heightened trading activity.