TASER, Digital Ally Shares Rise On Potential Increase Of Government Funding For Community Policing Initiatives

Shares of TASER International Inc. TASR are trending higher Monday on the heels of a mid-afternoon Wall Street Journal article.

The article reports that President Obama is expected to ask lawmakers to add money for body cameras and other community policing initiatives to a broader spending bill as part of his
response to unrest over the shooting death of an unarmed black teenager in Ferguson, MO.

“House and Senate aides said they expected the request to be made later Monday, with a Senate aide saying the request is expected to be about $200 million.”

Amid the report published at 12:59 PM ET, shares of TASER quickly rose roughly 1.5 percent from $21.90 to $22.40.

The rise in shares of TASER may be a result of traders acknowledging that the company is one of best positioned to capture the increased government aid funding.

Shares of TASER closed Monday’s session at $22.09 up 2.84 percent.

Likewise, shares of Digital Ally Inc. DGLY experienced similar trading action Monday.

Amid the report, shares of Digital Ally increased roughly 10 percent from $12.40 to $13.40.

Shares of Digital Ally closed Monday’s session at $12.87 down 3.67 percent.

Notably, shares of TASER and Digital Ally continue to trend higher after hours up 1 percent and 6 percent respectively.