Rekor Systems, Inc. (REKR) experienced a turbulent trading session on January 21, 2025, opening at $1.85 and closing at $1.57, marking a 1.88% decline from the previous day's close of $1.60. The stock reached an intraday high of $1.94 before dropping to a low of $1.54, with trading volume surging to 14,705,893 shares, over three times the average daily volume. This heightened activity followed the announcement of a strategic partnership with SoundHound AI to enhance emergency vehicle technology through the integration of voice AI with Rekor's vehicle recognition software, Rekor Scout®. Despite the potential market impact of this collaboration, which aims to improve safety and operational efficiency for law enforcement and first responders, the stock faced downward pressure throughout the day.
The partnership with SoundHound AI is designed to provide hands-free operation of critical vehicle systems, such as automatic license plate recognition (ALPR) and emergency light bars, using voice commands. This initiative targets a significant market opportunity, with approximately 100,000 police vehicles purchased annually in the U.S. However, despite the positive implications of this collaboration, investor sentiment appeared cautious, as reflected in the stock's decline.