Sumary of Why Rekor Systems Stock Was Down Today:
- What happened Traffic monitoring and analytics company Rekor Systems (NASDAQ:REKR) has been moving the business in the right direction, but the stock of late has been stuck in reverse.
- The company’s shares fell nearly 10% on Wednesday as investors contemplate how long it will take for some of its growth initiatives to pay off.
- So what Rekor makes license plate recognition systems and traffic monitoring devices.
- Traffic and congestion are of concern everywhere, and there is a lot of potential for Rekor products and services that provide real-time data and insights designed to make roads safer and improve flow.
- After Wednesday’s fall, Rekor is still up 21.6% for the year, about 2 percentage points ahead of the S&P 500. On Tuesday, Rekor held an investor day highlighting the promise of its tech, but based on the stock’s reaction, investors are not sold on the company being able to capture it.
- In many cases, making existing roads work better is a more affordable option than building new ones, and Rekor should benefit.