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Taser Leading Law Enforcement Stocks Lower

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Taser Leading Law Enforcement Stocks Lower

Law enforcement related stocks have run up this summer following a string of social unrest, police shootings and investors speculating that police departments across the world will continue adopting body worn cameras, which would benefit companies such as TASER International, Inc. (NASDAQ: TASR).

In fact, shares of Taser are higher by nearly 25 percent over the past three months and nearly 60 percent since the start of 2016.

Related Link: 7 Stocks To Watch Amid Baton Rouge Tragedy

Several related stocks include:

  • Sturm, Ruger & Company (NYSE: RGR)
  • Smith & Wesson Holding Corp (NASDAQ: SWHC)
  • Digital Ally, Inc. (NASDAQ: DGLY)
  • Vicon Industries, Inc. (NYSE: VII)
  • COPsync Inc (NASDAQ: COYN)
  • Image Sensing Systems, Inc. (NASDAQ: ISNS)

What's Happening Today?

In Wednesday's trading session, shares of all seven companies were trading lower to various degrees. For instance, shares of Taser were lower by 8 percent.

Taser's CEO Rick Smith was a guest on CNBC Tuesday. The executive highlighted the company's initiatives, particularly within the connected camera and software space. The segment may have played a role in Wednesday's heavy selling, especially after Cramer highlighted the stock's strong outperformance over the past year.

Shares of Digital Ally, a smaller seller of body worn cameras, saw its shares dip lower by more than 3 percent. Shares of Vicon Industries, COPsync and Image Sensing Systems, all smaller players in the sector, were trading lower by 3 percent, flat, and nearly 1.5 percent, respectively.

Among the gun manufacturers, Sturm, Ruger & Company were trading lower by 2 percent, but Smith & Wesson was underperforming with a more than 5 percent loss.

Posted-In: Body Worn Cameras law enforcement Law Enforcement Stocks Police Shootings TASERIntraday Update Movers Best of Benzinga

 

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