Taser stock rises on new London contract
Could a pilot program with the London Police Department move the needle for the company?
Some 500 officers would each be equipped with a camera, which would upload a constant feed to cloud storage, ideally in the hope that it could reduce complaints, increase accountability, and reduce legal costs for the department.
While 500 cameras isn't an enormous amount of revenue for Taser, this is only a pilot program. London's police department is huge, with around 31,000 officers, so if this delivers the kind of results the department is looking for, this could represent a massive opportunity for Taser in the future.
In this video from Tuesday's Stock of the Day however, Motley Fool analyst Blake Bos says he's still a bit wary of Taser's valuation. At about fifty times earnings and six times sales, he still sees this as a very expensive stock, and would prefer to know the company and its prospects just a bit better before paying that high price.
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The stock rises 9% after the company reveals strong second-quarter results.
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