Digital Ally, Inc. (DGLY) shares experienced a significant surge in after-hours trading on Tuesday, following the company’s receipt of a U.S. patent for a groundbreaking technology that tracks and analyzes driver behavior within fleets of vehicles.
The patent documents reveal that Digital Ally’s innovative system incorporates a monitoring engine that gathers data from vehicle-tracking devices associated with each vehicle in the fleet. This information is then processed by a mapping engine, which visually represents incidents on a map using icons.
The system also includes a sophisticated driver analysis engine that meticulously examines incident information linked to multiple drivers. By analyzing this data, the engine generates detailed driver profiles, providing valuable insights into individual driving habits and patterns.
The news of the patent has ignited significant investor interest, leading to heavy trading volume in DGLY shares. According to Benzinga Pro, the stock’s float stands at only 3.164 million shares, and over 3.88 million shares were traded on Tuesday.
Investors can gain exposure to DGLY stock in several ways. They can purchase shares directly through brokerage platforms, invest in exchange-traded funds (ETFs) that hold the stock, or allocate a portion of their 401(k) to a strategy that aims to acquire shares in mutual funds or similar instruments.
It’s important to note that Digital Ally operates in the Information Technology sector. ETFs often hold shares in a diverse range of liquid and large companies within specific sectors, enabling investors to participate in the trends of that sector.
As of Tuesday’s after-hours trading, DGLY shares were up a remarkable 37.66% at $1.17. This significant price increase highlights the market’s enthusiastic reception of the company’s latest innovation.
