Some stock plays – like Hi-Crush Partners, as I discuss above – take a long time to really get rolling. And then there’s Rekor Systems, Inc. (REKR), which I first wrote about last month under its former name of Novume Solutions (NVMM).
Since Rekor Systems was added to my Hot List, shares have climbed 62% to a high of $1.12, demonstrating that sometimes a name change can provide more than just a cosmetic facelift to the stock – it can also reawaken lagging investor interest and give fresh life to a company like Rekor.
While shares have returned some of those gains over the past 24 hours (as of the time we were writing this report, Rekor was trading back at $0.86), we still believe that the stock has a lot of upsides ahead of it.
It’s a no-brainer, in our opinion: an intriguing AI-driven product offering, new strategic focus on tech, fresh blood in senior management, the launch of its new cloud-based software NUMERUS, and a very recent deal with the Department of Defense all point to a sunnier future for Rekor shares.
