Taser International TASR and Digital Ally DGLY continued their stock market run-up Monday driven by civil unrest that began August 9 in Ferguson, Missouri.
Both companies manufacture small cameras worn by police officers, and unrest in Ferguson was touched off by the police shooting of civilian Michael Brown in an incident that police did not record.
Taser, up three percent Monday, has gained 44 percent since August 1. Digital is up 228 percent in the same period, picking up more than 57 percent Monday.
Taser is touting a two-year study by the Rialto, California police department in collaboration with a researcher from Cambridge University which found that police wearing the cameras were 60 percent less likely to use force.
Digital Ally put out a press release last week saying that orders for its cameras have surged since unrest in Ferguson began.
Taser entered the law enforcement video business in 2012 and the segment's revenue doubled in the second quarter to $3.6 million of Taser's total revenue of $32 million.
Digital launched a police body camera in December and the product now accounts for 36 percent of recent second-quarter revenue of $3.4 million.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
