Why Wrap Technologies Stock Is Rising Today
Shares of Wrap Technologies (NASDAQ: WRTC) were rising nearly 7% in midday trading on Thursday following a massive 30% sell-off in the stock the day before.
Wrap's plunging fortunes were brought on by a less-than-rousing endorsement by the Los Angeles Police Department (LAPD) for the company's signature BolaWrap device, which shoots out Kevlar cables that quickly wrap around suspects' legs or arms to restrain them. Wrap describes it as "remote handcuffs."
The LAPD said it deployed the BolaWrap nine times in its 180-day trial period, but three of those times it was deemed ineffective.
Source Fool.com
