Yahoo Finance Taser shares skyrocket as tensions continue in Ferguson
As tensions continue to escalate in the town of Ferguson, Missouri after the police shooting of teenager Michael Brown, Taser International stocks have skyrocketed.
The company, widely known for its signature electroshock weapons, has seen a 34 per cent rise in shares over the last five days of protests in the town.
It is not the Taser itself but the company's on-body video camera technology that is thought to be the reason for the sudden increase in share prices.
Investors have speculated there will be a boost in the sale of these body cameras after claims of excessively violent police tactics.
“The stock is running on more speculation that police officers may be wearing these things,” Brian Ruttenbur, an analyst from CRT Capital Group told Bloomberg. “It’s directly related to what’s happening in Missouri."
The logic is that if police engage in brutality, there will be a video recording of it.
Likewise, when the police are undertaking correct protocol, a video will strengthen their credibility.
The company also offers software to make uploading the video content a simple process and it is thought these videos could supercede written reports as the main way of recording evidence.
Taser International also has the advantage of being only one of two big companies to make such cameras.
The notion of police body cameras are gaining popularity across the United States with several states including Los Angeles and Detroit having already implemented use within its police forces.
Australia is already at the forefront of such technology. Earlier this year the New South Wales Government spent $4 million rolling out body cameras to be attached to police vests.
"The video devices make a significant contribution to fighting crime, it also allows police officers to record actions that they've been involved in," the ABC reported NSW Police Minister Stuart Ayres as saying.
