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AI Stocks Under $10: Rekor Systems and SoundHound AI in focus

Rekor Systems shares closed at $1.56 on June 11, 2024, while SoundHound AI was trading at $4.65 after paying off $100 million in debt.

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Benzinga highlighted two artificial intelligence focused stocks trading below $10 per share, Rekor Systems Inc. and SoundHound AI Inc., as part of its roundup of AI companies at lower prices. The list targets publicly traded firms developing or applying AI technologies, with the outlet noting that these stocks can face higher risk than more established names.

Rekor Systems, incorporated in 2017 and headquartered in Columbia, Maryland, builds AI-driven infrastructure solutions for transportation, public safety, and urban mobility. Its platforms include the Rekor One roadway intelligence platform, Rekor Command for traffic management centers, and Rekor Scout, which the article says automates manual processes to keep stakeholders informed and speed incident response times. Benzinga also points to the launch of Rekor Discover, described as a next generation solution for AI-based traffic studies and analytics, and a recently won patent for privacy-centered traffic management technology.

For SoundHound AI, Benzinga describes the California based company as a voice AI and speech recognition technology provider, with products ranging from voice AI platforms for businesses to consumer applications for music recognition. The article says the company moved to pay off outstanding $100 million in debt and is now positioned with a stronger cash profile, while also continuing to secure new customers despite a pullback from its all time high. As of the latest figures cited, Rekor Systems closed at $1.56 on June 11, 2024, and SoundHound AI was trading at $4.65.

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