Shares of Digital Ally Inc. (NASDAQ: DGLY), a wearable cameras
manufacturer, experienced strong upward share price momentum and has turned
into a multi-bagger after climbing more than 800% in the past month. The stock continued its rally after gaining more than 20% touching its 52-week highs during each of the past two consecutive trading sessions with massive number of shares exchanging hands encouraged by a “five-fold” rise in inquiries for its wearable cameras from police departments in the aftermath of the fatal shooting in Ferguson this month. DGLY was among the top performer in the U.S. industrial sector after skyrocketing 79.1% Tuesday and ended at its 52-week high of $33.41 while recording significant volumes of 21.4 million shares. During the past 5-trading sessions, DGLY jumped 167.3% while recording daily average trading volumes of 14.4 million shares compared to the past one month daily average trading volume of 4.2 million shares. We note that the stock is up 263% year-to-date. Recently, DGLY received a new order from the Michigan State Police worth an estimated $1.1 million raising the total value of orders from Michigan State Police to $6.5 million this year.
Company Description:
Digital Ally Inc (NASDAQ: DGLY) manufactures digital security products for law enforcement agencies. The company produces a police flashlight that records digital video whenever it is switched on, in-car digital video equipment, and a digital video surveillance camera that records in ultraviolet light and is activated by heat and motion sensors.
1-Year Stock Chart:
Source: Bloomberg
