Taser Up Sharply On Civil Unrest In Ferguson
Taser International (NASDAQ: TASR) jumped more than eight percent Friday on higher-than-normal volume after a news report noted demand for its widely-used police body cameras may rise in the wake of unrest in Ferguson, Missouri.
Taser has gained more than 11 percent since police in Ferguson fatally shot Michael Brown last weekend.
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. Its Axon camera eliminates the need for the camera to be mounted above the shoulder of a police officer.
"Placing the camera on the officer creates a paradigm shift that will ultimately overtake the majority of the in-car camera market," the company has said.
Axon is designed to be integrated with Taser's evidence.com, a cloud-based system for managing digital evidence from body cams, fixed cameras, police interrogation rooms and other sources.
Taser offered analysts a general outlook on its total business Thursday in Boston at Oppenheimer's Technology, Internet & Communications Conference.
Taser recently traded at $13.77, up 8.4 percent. Volume was 1.66 million shares around noon, compared with average daily volume of 1.2 million shares.
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