AAXN - Why Axon AeroVironment and iRobot Stocks Plunged 10% to 15% This Morning
Axon Enterprise (NASDAQ: AAXN). AeroVironment (NASDAQ: AVAV). iRobot (NASDAQ: IRBT). Small, fast-growing industrial companies such as these, bringing disruptive technologies to market, are some of the most exciting stocks an investor can own -- but not always in a good way.
Over the years, our Motley Fool analysts have recommended each of these three companies multiple times because we believe their technologies -- stun guns and police body cameras, small drones, and robots -- are reshaping the world as we know it. Unfortunately, that didn't make any of these companies immune to today's broad-based stock market sell-off, which is being fueled by a mix of coronavirus fears and the steep plunge in crude oil prices.
In early trading today, Axon stock fell nearly 16%, while AeroVironment and iRobot each tumbled more than 10%. As of 10:30 a.m. EDT, Axon stock remains down 6.9%, AeroVironment is 7.6% lower, and iRobot has dropped 9.7%.