Wrap Technologies, Inc. (WRAP) wins the first contract to supply US police with BolaWrap devices. In Thursday’s session, WRAP’s stock gained 5.87% to close at $7.58.
Wrap unveiled its non-lethal BolaWrap devices to the Miami Police Department this week. The department placed its first order for this equipment to patrol officers. The first batch of devices with accessories for employee training has been delivered.
It is an easy-to-use device that uses a dummy cartridge to eject a thin Kevlar cord that gets tangled. BolaWrap is less hazardous to health than remote stun guns, which can paralyze muscles instantly and cause heart attacks. BolaWrap limits mobility with the lowest risk of injury.
Wrap Technologies, Inc. (WRAP) demonstrated its products in Miami in June 2021. The presentation was successful, and the company received a pre-order. As long as BolaWrap proves effective in day-to-day operations, the Police Department may continue to cooperate. There have been three successful applications of the BolaWrap. Police have described it as not a weapon, but an arresting tool that doesn’t harm the body.
Wrap Technologies, Inc. (WRAP) supplies its equipment, including through a subscription program. Another source of income is a comprehensive training program which includes a simulator, first aid classes, conflict de-escalation techniques, etc.
In the past year, WRAP stock has dropped by -11.76%, and it has gained 6.91% in the last week. This stock has lost -0.52% over the past three months, and 44.11% over the past six months. Moreover, it currently has a market value of $300.47 million and 38.16 million outstanding shares.