Digital Ally Continues Its Surge on Body Cam Demand
Digital Ally Inc. (NASDAQ: DGLY) shares pushed higher on Monday, continuing their run higher. Last week, the company announced that it would be launching a body camera subscription program for police and other first responder personnel. Digital Ally’s stock has been driven higher as demand for body cams increases hand in hand with civil unrest across the country.
The program currently features Digital Ally’s lightweight, weather-resistant FirstVu Body Camera with Mini Dock. However, there will be several subscription packages available, with versatility to match a department’s unique needs for additional products and services.
Digital Ally is pursuing a subscription model, having determined that many departments do not have adequate funding for video evidence technology. Accordingly, this subscription program will provide an opportunity to pay off units over time, and it also will offer packages that require no down payment.
Current events, including protests and riots across the country, have demonstrated the need for body cameras on police and other law enforcement personnel. Body cameras and in-car video systems have become more common in the past decade since the unrest in Ferguson, Missouri. The company claims that there are still hundreds, if not thousands, of departments that do not have this technology at their disposal.
Excluding Monday’s move, Digital Ally stock had outperformed the S&P 500 and Dow Jones industrial average with a gain of 317% year to date. In the past 52 weeks, the share price was up 65%.
Digital Ally stock was last seen up over 6% at $4.52, in a 52-week range of $0.64 to $7.10.