AXON

Over the past six months (April 2026 to October 2026), Axon's stock price experienced significant fluctuations, with a total return of -39.60% over the past 12 months and a 42.72% decline from October 2025 to October 2026. In Q1 2026 (May 6, 2026), AXON stock climbed 10.6% after reporting record quarterly revenue of $807 million, a 34% year-over-year increase, driven by strong demand for TASER 10, Axon Body 4, AI products, and counter-drone solutions, leading to a raised full-year revenue growth outlook of 30%-32%. However, in Q2 2026 (August 5, 2026), despite sales increasing by 35.3% year-over-year to $904.4 million and management raising full-year revenue growth guidance to 32%-34%, shares fell after market close and drifted 20.1% lower over 64 days. In September 2026, Axon's announcement of a proposed offering of $1.0 billion in 0% Convertible Senior Notes due 2031 and an increase in its unsecured revolving credit facility to $500 million also led to a drop in share price. Additionally, there has been notable insider selling in the past 12 months, with CEO Patrick W. Smith being the largest open-market seller.