Shares of Taser International are going nuts
The company's shares surged by more than 9% in early afternoon trading on Friday to as high as $33.23, an all-time high.
The stock jumped by about 6% on Thursday after it reported strong sales in the first quarter, and both revenues and earnings that beat analysts' forecasts.
Taser International noted that the increase in revenues was due to higher sales of Tasers, its eponymous product used in law enforcement. It also saw increased sales of its Axon body cameras worn by police.
There was no additional news on the company, but The Fly On The Wall noted that on Friday, the Justice Department announced a $20 million pilot program for body-worn cameras.
In a release, the department said this includes a $17 million investment in "competitive grants" for body cameras, $2 million for training, and $1 million for research.
The department described body cameras as a vital part of law enforcement in the 21st century.
Last month, Taser shares rallied by more than 8% after the City of London Police Department announced that it ordered 178 Axon body-worn video cameras in the first quarter.
Shares of Digital Ally, a $57 million-company that also makes body cameras, jumped by up to 6% on Friday.
Here's a chart showing the spike in Taser shares after the earnings announcement Thursday, and the move higher today:
And the spike in Digital Ally shares on Friday:
