Taser's Stock Shoots Lower Despite New Partnership Announcment

Shares of TASER International, Inc. TASR were trading lower by nearly 5 percent Tuesday afternoon despite the company's announcement of a new partnership. Taser said that it reached an exclusive partnership with Italy-based Amped Software, a provider of forensic video enhancement tools. Taser noted that the new partnership will enable law enforcement members to use a variety of tools to analyze evidence through Amped's Axon Forensic Suite. Amped Software currently sells its products in more than 100 federal, state and local agencies across the U.S. and Canada and in law enforcement labs in more than 50 countries. "Forensic video enhancement has never been more relevant than it is right now," said TASER CEO and co-founder Rick Smith. "Among other things, Amped Software's products can help alleviate a major customer pain point when it comes to playing back proprietary or non-standard video formats. Low-quality CCTV footage that our customers are accustomed to seeing in places like convenience stores and gas stations will no longer have to be a stumbling block in investigations."