Why Axon Stock Just Got Zapped

·2 min read
Why Axon Stock Just Got Zapped

On a bright green day for the stock market -- the Dow is up 2%, and the tech-heavy Nasdaq is up 1.2% -- shares of one tech stock are looking particularly red this afternoon. As of 1:45 p.m. ET, Axon Enterprise (NASDAQ: AXON) is down 5.1%, and you can blame Morgan Stanley for that. Morgan Stanley switched its coverage of Axon from one analyst to another, and the new Axon specialist, Erik Lapinski, took the opportunity to downgrade the bank's rating on Axon to equal weight (not quite a sell, but not buy anymore, either), reports The Fly today.

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