Why Wrap Technologies Stock Popped Today
It's...all but a wrap. After climbing 33% since Monday evening, shares of non-lethal, police-equipment maker Wrap Technologies (NASDAQ: WRAP) are all but certain to close out this week on a high note as shares rise a further 15.2% in Friday trading (1:45 p.m. EDT).
What's driving Wrap stock up? Positive PR.
Two days ago, Wrap announced that the Seattle Police Department had approved a pilot program for the BolaWrap Remote Restraint device, "a patented, hand-held device that discharges a Kevlar tether to temporarily restrain from a safe distance." Then mid-day yesterday, the company announced that the Mountlake Terrace Police Department -- also in Washington State -- successfully used a BolaWrap device to restrain "a subject in mental crisis walking in the road and in front of vehicles."
Source Fool.com
