AXON - Wrap Technologies' BolaWrap Was Only Used Once In The LAPD Pilot Program Extension And Other Bearish Events
- Wrap Technologies' CEO's comments on the outlook in the previous earnings call suggest that revenues will decline next quarter, especially international.
- The LAPD extended their pilot program, and the BolaWrap was unbelievably only used ONCE during the first 180-day extension (from 8/11/20 to 1/31/21).
- Facing lower backlogs, WRAP dropped the backlog number from its last two earnings announcements.
- Wrap Reality, WRAP’s police virtual reality training, isn't ready and already has a lot of established competition, including from Axon.
- WRAP will likely be dropped from the Russell indexes later this month causing funds that track Russell indexes to sell the stock.
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Wrap Technologies' BolaWrap Was Only Used Once In The LAPD Pilot Program Extension, And Other Bearish Events