Why did Axon Enterprise stock fall 10% on Tuesday?
Shares of law enforcement technology company Axon Enterprise ( NASDAQ:AXON) fell 10% on Tuesday, and surprisingly, there isn't a good explanation for the drop. There weren't any new press releases, filings, or comments from analysts. This commentary doesn't feel satisfying; we feel like there always has to be something behind a big move like this.
Should you buy axon stock as hot as it gets?
Whatever the company's merits, the problem with buying a stock as hot as Axon is that there comes a point when the stock's price has been driven up so high that the chances for further gains are slim.
What to expect from axon's Q4 earnings?
Axon's fourth-quarter results will be announced on Feb. 25. At that time, management expects to report quarterly revenue of $175 million to $185 million, up modestly from the $172 million it reported in the fourth quarter last year.
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What happened
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
So what
Shares of Axon Enterprise ( NASDAQ:AXON), the maker of Taser stunguns and also Axon police body cameras, saw its stock devastated in Thursday's sell-off. By the time trading was done, Axon shares ended down 12.8%.
Now what
The past three weeks have seen a remarkable surge in investor interest in Axon Enterprise stock, which has soared 39% in price, culminating in one last, 3% gasp after investment bank JPMorgan raised its target price on the stock to $120 yesterday.
