Why Axon Enterprise Stock Was Tumbling Today
A convertible note offering spooked investors.
Overview
Shares of Axon Enterprise (NASDAQ: AXON) were taking a dive today after the seller of TASER electrical weapons, body cameras, and related technology, announced a convertible debt offering.
Investors seemed to dislike the idea of being further diluted and that a company already trading at a high valuation was going further into debt.
Details
As of 1:59 p.m. ET, the stock was down 8.8% on the news.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.