What: Shares of Taser and body camera maker TASER International, Inc. (NASDAQ:AXON) jumped 11.2% in June as the company signed a new partnership and announced new customer deals.
So what: The most notable news was that TASER signed a strategic partnership with Cradlepoint, which provides solutions in 4G LTE networks. Future Axon body cameras will be able to bring wireless connectivity and even location services to law enforcement. This could be another feature upgrade that will make the company's product more valuable to law enforcement and the community.
TASER also announced sales agreements for 1,600 body cameras in the U.K. and a body camera and Taser sale to all 7,000 front-line officers in L.A.
Now what: Momentum continues to be strong for TASER's business, and with most body camera customers signing contracts for Evidence.com backup, the future revenue opportunity is big. The continued focus on improving technology should also help increase demand long term as it becomes easier for law enforcement agencies to use the technology.
The future is bright for Taser, and I think the long-term potential in shares is just beginning to show itself.