Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 181.46

-3.6%

12:15 PM EST

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From: Zen Dollar Round	8/7/2024 11:17:12 AM
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AXON: Great earnings report and the stock is up over 23% today as I write this, up to ~$365. I mentioned AXON back in this thread back in 2019 but did not continue to post about it here. They were formerly known as TASER International. As the maker of taser weapons and body cameras for law enforcement, they are the market leader in both. If you've ever seen any police body cam footage in the last few years you're probably familiar with the brand. The Axon name is prominently displayed in the corner of at least 90% of all such videos I've seen. The stock has had quite a run in the last two years, in June of 2022 it was priced in the mid $80's. It is well ahead of itself now with a PE of 107+ and I expect a pullback from today's action, but the future looks bright. With all the lawlessness after the murder of George Floyd, the nationwide move to defund the police, and the resulting increase in crime and backlash because of it, I don't see much downside risk to owning AXON. While earnings were good, I can only guess the stock had been heavily shorted, thus helping to drive the price today.

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