Shares of ScanTech AI Systems Inc. (STAI) slipped 11% on Monday morning after the company announced a strategic partnership with Creeksource Consulting LLC to accelerate the deployment of advanced AI-powered security technology across U.S. government agencies.
STAI is currently trading at $1.9100, down $0.2500 or 11.5741%, on the Nasdaq. The stock opened its trading at $2.4350 after closing Friday at $2.1600. The stock has traded between $1.2300 and $12.1900 in the past 52-week period.
The company said the partnership strategically positions ScanTech AI to pursue Department of Defense (DoD) contracts through Creeksource's federal contracting program. Creeksource is a Native American 8(a) firm affiliated with the Muscogee (Creek) Nation.
Native American tribal organizations can secure federal contracting revenue from projects implemented across the United States.
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