That Was Digital Ally's Big Announcement?
Digital Ally, Inc. (NASDAQ: DGLY) rocketed up more than 10 percent on Thursday after the company promised a major unveil on social media.
A day later, that turned out to be -- drum roll please -- the sponsorship of a Kansas golf tournament.
The company, which provides video products for law enforcement and security, closed Thursday at $13.68, up $1.26, but are still off 10 percent year to date.
'A Big Announcement'
Some investors appear to have believed the company's promotional tweet meant a material disclosure was forthcoming.
"We've got a BIG #announcement! We'll be live-streaming our announcement on #Periscope tomorrow morning at 10am CST," the company said via Twitter. Periscope is Twitter's video streaming service.
The Digital Ally Open
The previously named PGA Midwest Classic will be now known as the Digital Ally Open, under a five-year agreement.
The tournament is an official Web.com Tour event, a developmental circuit of the PGA Tour.
Financial terms of the deal weren't disclosed.
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