Shares closed at $403.54 on Friday as the S&P 500 rose 0.84% to 7,398.93 and the Dow Jones Industrial Average edged up 0.02% to 49,609.16.
The decline left Axon 54.45% below its 52-week high of $885.92 reached on 5 August, though it still outperformed Motorola Solutions, which fell 11.36%.
Sturm Ruger shares slipped 0.26%, while Axon trading volume reached 1.7 million shares, above its 50-day average of 1.1 million.
Axon's revenue is up 34%, yet its stock dropped. Are macroeconomic fears overshadowing the company's explosive growth in AI and drones?
With record profits but falling shares, are looming legal battles over AI surveillance technology scaring investors away from Axon?