Shares of Taser International fell by more than 4% as the Tribeca Film Festival continues running a documentary thatquestions the safety of its namesake product.
Business Insider’s Brett Arnold and Amanda Macias wrote about the film, titled “Tom Swift and His Electric Rifle”:
“Rick and Tom Smith founded Taser International in 1993 and have sold their stun gun to almost all of the US’ 18,250 law-enforcement agencies (only about 450 police departments do not deploy the Taser), according to the company.
As the film progresses, these seemingly innocuous figures appear more and more sinister as we see them jump through hoops to avoid taking responsibility for the potential harm their product inflicts.”
BI’s report notes that the film highlights dash-cam footage of the 2008 death of 23-year-old Stanley Harlan, after he was tasered for 31 seconds.
In the documentary, the Smith brothers argue that the product is safe. And in training materials, the company advised officers not to shoot directly at people’s chests.
The stock, which fell as low as $US28.75 in morning trading on Tuesday, has rallied 64% over the past 12 months.
Apart from tasers, the company also makes police body cameras, both of which are in demand from police departments within and outside the US.
Shares spiked more than 8% April 9 after the City of London Police Department ordered 178 AXON body-worn video cameras for the first quarter.
And following the shooting death of Walter Scott in North Charleston, which was filmed by a bystander, the city ordered 150 additional body cameras so that every officer on the street has one.
Here’s a chart showing recent trading in Taser International shares:
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