Shares of TASER (TASR) Sink on Stinger Allegations
Tweet
Share
E-mailGet Alerts TASR Hot Sheet
Join SI Premium – FREE
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.
You May Also Be Interested In
- Bleecker Street Research is short Lyft (LYFT)
- KeyBanc says these 3 chip stocks offer favorable risk-reward into earnings
- After-Hours Stock Movers: GOOGL, TSLA, NOW, IBM, TXN, MOH, URI
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
