Shares of a company that makes body cameras worn by police went wild on Thursday
Apr 10, 2015, 02:37 IST
APShares of Taser International jumped by more than 8% in trading Thursday.
Advertisement
In a press release, the company announced that the City of London Police Department ordered 178 AXON body-worn video cameras in the first quarter. The rise in shares also comes after the shooting of Walter Scott in North Charleston, which was filmed by a bystander. Following this news, mayor Keith Summey told reporters the city has ordered 150 additional body cameras for "every officer on the street," according to CNN. Back in November, Taser shares also went wild after the Winston-Salem police department said it had put in an order for 623 AXON body-worn video cameras.Last summer, shares of Taser spiked after protests following the shooting death of Michael Brown in Ferguson, Missouri.
Revenues on AXON cameras jumped 159.4% year-over-year in the fourth quarter ended December 31, the company reported. Nearly 50 police departments made "significant orders," last quarter, the company said.
Shares have rallied 47% over the past year.
