Trade-Ideas: Digital Ally (DGLY) Is Today's Unusual Social Activity Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Digital Ally ( DGLY) as an unusual social activity candidate. In addition to specific proprietary factors, Trade-Ideas identified Digital Ally as such a stock due to the following factors:

  • DGLY has 10x the normal benchmarked social activity for this time of the day compared to its average of 164.58 mentions/day.
  • DGLY has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $296.2 million.

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press? Bad press? It ultimately doesn't matter if it's good or bad if you know how to trade around the sentiment. Certain hedge funds use such data for their proprietary algorithms and it is not uncommon to see shared social sentiment play itself out in a stock's price trend.

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More details on DGLY:

Digital Ally, Inc. produces digital video imaging and storage products for use in law enforcement, security, and commercial applications in the United States and internationally.

The average volume for Digital Ally has been 26,300 shares per day over the past 30 days. Digital Ally has a market cap of $19.4 million and is part of the technology sector and electronics industry. The stock has a beta of 1.13 and a short float of 6.4% with 0.02 days to cover. Shares are down 4.9% year-to-date as of the close of trading on Friday.

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