Axon Enterprise shares fell 9.1% during the session. The stock currently trades near $388.19. Shares retraced from a high of $426.89 reached on May 7.
Volatility spiked last week with a 10.63% gain on May 7. The stock experienced several down days following that initial rally. The company reported strong AI-driven Q1 results.
Management raised the 2026 revenue growth outlook to 30–32%. Investors engaged in profit taking due to valuation concerns. Broader weakness in growth and technology sectors amplified the downward move.