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Wednesday, March 26, 2008

Doubts on taser China sales

March 26, 2008
Associated Press - Forbes.com

NEW YORK - Shares of stun-gun maker Taser International were little changed Wednesday after an analyst threw cold water on what he described as a false rumor of Taser sales to the Chinese government.

The Scottsdale, Ariz., company's stock rose 3.4 percent Tuesday. Merriman Curhan Ford analyst Eric Wold said reports circulated that China would order Taser products to deal with Tibet-related protests and security for the upcoming summer Olympics. But Wold thinks those sales are prohibited by U.S. law.

The sale of military technology to China and Iran is illegal, he said. Wold believes Taser products would be considered military technology, and he said the company's representatives backed his view.

Taser International (nasdaq: TASR - news - people ) Inc. shares rose 6 cents to $10.21.

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