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July 22, 2004 Stock Pick: Taser International, Inc. (TASR)

Stock Price: $31.37

We released TASR as a stock pick on June 22 as a when it was at $30.45 a share. The stock ran as high as $48.49 or 59%. TASR has now returned back to the level of the June 22 stock pick.

The stock has declined due to the New York Times saying that the TASER killed at least 50 people since 2001. Company executives and a forensic expert have rebutted the claim. Only 2 of 150,000 TASER uses have been proven to be a factor in death. This is just the New York Times trying to capitalize on the hype of a major trend in law enforcement.

Meanwhile, the company reported Q2 net income of $4.5 million, or 14 cents a share, with sales nearly quadrupling to $16.3 million from $4.2 million in 2003. The company has locked in their first Department of Defense contract worth $1.8 million. Other developments include TASER's plan to launch its consumer version of the X26 during Q3.

This company has everything going for it except for unfounded reports by newspapers such as the New York Times. TASR could quickly bounce again as fears over product safety subside.

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