Digital Ally (DGLY) Stock Rockets As Riots Continue Across The U.S.

Digital Ally DGLY Stock News

Digital Ally, Inc. (NASDAQ: DGLY) is making a run for the top in the premarket hours, trading on gains of nearly 80% to follow up the more than 30% gains seen Friday. While the company hasn’t issued any news, the riots across the United States in the wake of the death of George Floyd are fueling the run. Here’s what’s going on:

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DGLY Stock Rockets In The Wake Of Riots Across The U.S.

As mentioned above, Digital Ally has been flying in the market over the past couple of trading sessions. With no news, some are wondering what’s going on. The answer is simple.

DGLY is a producer of police body cameras. This is an important product at the moment. In fact, there are riots taking place across the United States as a result of the killing of George Floyd on May 25, 2020.

A white police officer dug his knee into the neck of George Floyd (a black man) for a period of 8 minutes and 46 seconds. At the time, Floyd was handcuffed and had no ability to escape the assault that would eventually lead to his death.

This sparked a wave of protests across the United States. During the day, most of these protests are peaceful. However, when the night falls, the violence begins. Glows of orange flood the skies in big cities where protestors are setting businesses and police cars on fire. Tear gas fills the streets as looters run through the cloud with stolen televisions, jeans, and more.

The racial divide has never been spoken louder, and at this point, it is tearing our country apart. So, where does DGLY come into all of this?

There’s a strong argument that most of the killings by police are explained away and there are no repercussions for these acts. That is, until they are caught on camera, like what we saw with the death of George Floyd.

While nobody knows how long the protests will last, one thing that we do know is that action needs to happen to police the police so to speak. Of course, Digital Ally’s police body cameras are an important step.

If everything police do is captured on camera, then no real crime by the police can be explained away. As such, many believe that DGLY will see a serious jump in demand for its body cameras from municipalities across the country. Of course, if this is the case, the company can expect to see a significant increase in revenue.

The Bottom Line

Even in the wake of horrible news, there are always winners. As COVID-19 continues to spread, biotechnology stocks and those that make protective gear saw incredible gains. Now, while protests spread in an effort to decrease the racial divide, Digital Ally is a clear beneficiary.

The company’s products are designed to provide evidence of crimes, both those committed by consumers and those committed by police. With the riots taking place across the country, some sort of action is going to need to take place, and increased demand for DGLY is likely in the cards. All in all, this is a stock that’s hard to ignore.

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