TASER International, Inc. (TASR) Stuns Bears with Big Rally

TASER International, Inc. (TASR) bears got a jolt this morning, but the struggling stock still has more ground to cover

Nov 24, 2015 at 10:25 AM
facebook X logo linkedin


It's been a rough year on the charts for TASER International, Inc. (NASDAQ:TASR). Through Monday's close, the stock was down more than 31% in 2015, woefully underperforming the broader equities market.

As a result, bears have flocked to the stun-gun stock. Short interest accounts for more than 25% of TASR's float, representing 7.1 times the equity's average daily trading volume.

Likewise, options players have been leaning toward bearish bets. The stock's 50-day put/call volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) arrives in the 97th percentile of its annual range, marking a near-peak of pessimistically-skewed speculation on TASR.

While the stock's grim price action is certainly deserving of this heavy-handed skepticism, TASR is catching a boost today, as some of the weaker bearish hands stampede for the exits. The company announced that it's negotiating the final details of a contract to outfit the London Metropolitan Police Service with its Axon body-worn cameras, sending TASR shares up 4.6% this morning to trade at $19.08. The possibility of this deal going through also earned the stock an upgraded analyst rating last week.

The stock's short-squeeze rally could soon run out of steam, though, as TASR peaked today just shy of the round $20 level -- which is also the site of its descending 20-day moving average. Unless TASER International, Inc. (NASDAQ:TASR) can break out above multiple layers of resistance, the majority of the stock's skeptics are likely to remain firmly entrenched for now.
 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*