NEW YORK (TheStreet) -- Shares of Digital Ally (DGLY) are surging, up 5.48% to $22.15 in late morning trading Friday on heavy volume, as the maker of law enforcement video and audio recording products continues to gain after U.S. Attorney General Holder said Cleveland Police officers "engage in excessive force far too often, and [it] is neither isolated, nor sporadic," in the midst of an investigation by the U.S. Justice Department, Reuters reported.
The Cleveland investigation launched after a series of troubling high-profile police use-of-force incidents that brought appeals from city leaders for a federal investigation, Reuters added.
The Lenexa, KS-based company soared over 45% on Tuesday, and another 17.19% yesterday after President Obama announced a plan to set aside up to $75 million to buy body cameras for police officers across the country.
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There have been racially charged protests recently throughout the U.S. after the two grand jury decisions to not indict officers who killed an unarmed black men in Ferguson, MO, and another in New York City.
About 1.33 million shares of Digital Ally have changed hands as of 11:00 a.m. in New York, compared to the daily average of 981,404 shares.
Digital Ally develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial applications.
Separately, TheStreet Ratings team rates DIGITAL ALLY INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: