ATF Rules BolaWrap 150 Is Not a Firearm, Opening Door for Wider Adoption
WRAP sits 65% above its 52-week low of $1.04.
Summary
The ATF has formally classified Wrap Technologies' BolaWrap 150 as an instrument of restraint, not a firearm or weapon, under federal law. This removes a major regulatory hurdle for law enforcement agencies considering the device, as it simplifies procurement and reduces liability concerns. The ruling comes amid a broader legal shift following the Supreme Court's Barnes v. Felix decision, which requires officers to consider the full context of use-of-force encounters, increasing demand for pre-escalation tools. Wrap has already seen adoption by over 1,000 U.S. agencies and 60 countries, and this classification could accelerate sales by making the device more accessible to departments with strict firearm restrictions. The company recently secured exclusive U.S. and NATO distribution rights for drone detection technology, and this ruling further strengthens its position in the non-lethal public safety market.
At the time of this announcement, WRAP was trading at $1.72 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $88.6M. The 52-week trading range was $1.04 to $3.23. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.