Shares of TASER (TASR) Sink on Stinger Allegations
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Shares of TASER International (Nasdaq: TASR) are tumbling today on news that one of its top competitors, Stinger Systems, has submitted documents to the U.S. Patent and Trademark Office requesting a re-examination of certain Taser International intellectual properties.
According to the press release, the U.S. Patent and Trademark Office is currently reviewing whether to reexamine Taser's U.S. Patent 7,234,262.
The news was released before the market opened this morning, yet shares of Taser opened the day only slightly lower and actually moved into the positive before its stock started selling off at about 11:30 a.m. Since that time, Taser's stock price has fallen by more than $1.50, or as much 13%.
Investors are speculating as to whether the allegations by Stinger will negatively impact shares of Taser or if Stingers claims are unwarranted.
According to the press release, the U.S. Patent and Trademark Office is currently reviewing whether to reexamine Taser's U.S. Patent 7,234,262.
The news was released before the market opened this morning, yet shares of Taser opened the day only slightly lower and actually moved into the positive before its stock started selling off at about 11:30 a.m. Since that time, Taser's stock price has fallen by more than $1.50, or as much 13%.
Investors are speculating as to whether the allegations by Stinger will negatively impact shares of Taser or if Stingers claims are unwarranted.
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