TASER International was already off to a pretty rough go in the market during today’s trading session. However, now, late in the day, the stock is being hit with more bad news. According to recent reports, the company is facing legal action. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from TASR ahead.
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What We’re Seeing From TASR
As mentioned above, TASER International was already having a pretty rough day in the market. For the most part, the stock has been in the red all session. However, the declines may start to get bigger after the news that just broke. By the end of the trading session, TASR closed the day off at $22.52 per share after a loss of $0.47 per share, or 2.04%.
What’s Going On With The Stock
As mentioned above, according to recent reports, TASR is falling as the result of legal action. The reports state that Digital Ally is currently taking TASER International to court on claims that the company copied its camera design to make its AXON line of body cameras. DGLY also claims that TASR was involved in paying off “current and former law enforcement and government officials in order to win contracts and box Digital Ally out of the market.”
What We Can Expect To See Moving Forward
At the moment, things are up in the air when it comes to TASR. First and foremost, in the short run, the stock is likely to face continued declines following the news of the legal action. Ultimately, if the case proves to be valid, TASER International could be in some trouble, and that will scare investors.
However, it’s also important to remember that these legal battles happen all the time in the world of tech, and oftentimes lead to a small settlement or no action at all. With that said, mid-term movements in the value of TASR will likely depend on how this story unfolds.
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[Image Courtesy of Pixabay]