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AAXN - Why Axon Enterprise Stock Dropped 10% This Morning
Axon Enterprise
Shares of police body camera and Taser maker Axon Enterprise (NASDAQ: AAXN) stock tumbled more than 10% in early trading Friday before abruptly reversing course and clawing their way back to about a 4.6% loss as of 10:50 a.m. EST.
Why?
This morning, Axon revealed that it has filed a suit against the US Federal Trade Commission (FTC) in federal court, alleging that the federal agency's structure and administrative procedures are unconstitutional. In effect, Axon has just sued one of its biggest customers: the United States government.