Taser's Stock Rallies, But Backs Off Earlier Highs

Taser International's stock rose 2.5% in midday trade Tuesday, but pared earlier gains of as much as 3.9%, as investors assessed the impact of the grand jury's decision in Ferguson, Mo. late Monday. Taser sells stun guns and wearable HD cameras to law enforcement agencies and the military. "I think [Taser] is the most obvious beneficiary of the move to on-officer body cameras," analyst Steve Dyer at Craig Hallum Capital told MarketWatch. "But all of this has been anticipated. Nothing changes this morning, for sure." The stock was still up 63% since an unarmed teen was shot to death by a police officer in Ferguson on Aug. 9. Late Monday, a grand jury decided not to indict the police officer.

Copyright © 2014 MarketWatch, Inc.