Digital Ally (DGLY) Adds to Gains as Ferguson Police Start Using Body Cameras
Digital Ally (NASDAQ: DGLY) is continuing its recent surge as the on-officer camera theme continues to get thrust into the media spotlight following the events in Ferguson. Shares are up 15% in pre-open trade Tuesday and now up 462% since the the Michael Brown shooting. Today's upside comes as officers in Ferguson began wearing the camera devices on their uniforms this weekend. Digital Ally and Safety Visions donated about 50 cameras.
Ferguson police chief Tom Jackson told the Post-Dispatch the officers "are really enjoying using them." Other police departments around the St. Louis areas are also said to be deploying the devices.
Trying to temper the enthusiasm around its stock, in a disclosure Friday, Digital Ally warned investors that recent comments from CEO Stanton Ross that the company's revenue will approach $22.5 million in fiscal 2014 and that inquiries increased approximately fivefold may not be achievable.
Shares of Digital Ally last traded at $21.51. They were at $3.83 the on August 9, 2014, the day of the shooting.