Taser International: Stocks spike after police departments increase body camera orders.

Shares of Taser International Spike After Ferguson Unrest

Shares of Taser International Spike After Ferguson Unrest

Business Insider
Analyzing the top news stories across the web
Nov. 26 2014 3:27 PM

Shares of Taser International Spike After Ferguson Unrest

488743441-constable-yasa-amerat-holding-a-body-worn-video-camera
Orders for police cameras, which Taser International makes, are rolling in.

Photo by Yui Mok - WPA Pool/Getty Images

This article originally appeared in Business Insider.

Shares of Taser International are up more than 6 percent in afternoon trade Wednesday after the company announced the Winston-Salem police department ordered more than 600 body cameras from the company.

Advertisement

In a release Wednesday, Taser said the Winston-Salem police department would buy 623 AXON body-worn video cameras and that the order was received during the fourth quarter. 

Taser makes body cameras and other safety gear.

The latest order from the Winston-Salem department follows an initial order of 293 cameras made in July.

Back in the summer, shares of Taser rallied after protests in Ferguson, Missouri, first broke out following the shooting death of Michael Brown by Ferguson police officer Darren Wilson.

Advertisement

Protests have again broken out in Ferguson and across the country after a grand jury on Monday said it would not indict Wilson for his role in the death of Brown.

In August, some in the market attributed the strength in Taser shares to speculation that more police departments around the country would purchase the company's body cameras for more widespread use among their officers. 

In addition to Wednesday's rally, Taser shares have gained more than 40 percent in the past month.

taserinternational

Google Finance