ScanTech AI Soars Pre-Market After SPAC Transaction: Retails Sounds Bullish Note

Shares of ScanTech AI Systems Inc. (STAI) surged over 30% in pre-market trading on Friday after the company completed its business combination with Mars Acquisition Corp., a special-purpose acquisition company.

“As ScanTech AI embarks on the next phase of its growth strategy as a public AI-driven technology company, I am thrilled to be partnering with Mr. Falconer and his team as we accelerate our impact in the security solutions market,” said ScanTech AI’s Chairman Karl Brenza.

ScanTech AI manufactures Computed Tomography (CT) security solutions for use at airports, border and public event checkpoints, and other locations.

Its scanners are also used at two of Canada’s largest nuclear power plants.

CEO Dolan Falconer said the company is “actively pursuing opportunities” to expand its footprint and sees “significant potential” in deploying its CT scanners to ensure security at the border.

“Our scanners can instantly and automatically detect explosives, drugs, and other hazardous materials, reducing the potential for human error,” said ScanTech AI’s founding CTO, Rocky Starns.

Retail sentiment on Stocktwits was bullish at the time of writing, with some users saying they have bought more shares after the stock’s dip.

Another user mocked someone who made a bearish comment, saying ScanTech is a “brand new growth company.”

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