Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of law enforcement product maker TASER International, Inc. (NASDAQ:AAXN) jumped as much as 11% today after the company received another significant list of orders.
So what: The company's press release today listed 25 orders of 40 weapons or more from 19 states for a total of more than 3,000 weapons. For some perspective, the company sold 26,388 of X26P, X26, and X2 Tasers in the fiscal fourth quarter, so this doesn't necessarily mean significant growth in revenue.
Now what: While it's always good to get a significant number of orders, I don't think today's order announcement is more than normal business operations for TASER International. The company continues to benefit from police departments around the world transitioning to non-lethal weapons and body cameras, which should drive sales higher long-term. While I don't think today's pop is a reason to buy, I do think this is a strong stock to own long-term and certainly won't be selling my shares today.
Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.