Taser Gains On Report LAPD Moving Ahead With Order

Shares of TASER International, Inc. (NASDAQ: TASR) were trading higher by 2 percent Thursday morning as traders and investors began circulating a report from The Los Angeles Daily.

According to the report, Los Angeles' mayor Eric Garcetti called on City Council to proceed with an existing $31 million contract with Taser which covers the purchase of body cameras.

Related Link: Taser Competitors Complain Of Law Enforcement 'Piggybacking' Contract Process

The publication added the contract has been put on hold last year, but appears to have been brought back to life as city council members had been given time to "vet and scrutinize" the contract.

The city hoped to equip all police officers with body cameras by next fall.

"I think the people of Los Angeles deserve these cameras and delaying deployment for years potentially for no good reason, I think, is irresponsible," Garcetti said during a phone news conference with reporters on Tuesday.

The contract is said to be worth $57 million over a five-year term and include the purchase of 4,400 stun guns.

However, Mitch Englander, a city Councilman, is expected to present a proposal which may restart the bidding process because "people are questioning the price tag" of the deal.