Axon stock at risk of losing half its value, short seller Spruce Point says [MarketWatch]
AXON ENTERPRISES INC (AAXN)
Last axon enterprises inc earnings: 2/27 04:01 pm
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Source: MarketWatch
Axon stock at risk of losing half its value, short seller Spruce Point says Investors who own Axon Enterprise Inc. should brace for the stock to lose half its value, according to well-known short seller Spruce Point Capital Management, which issued a “strong sell” opinion on the law-enforcement technology company, that was formerly known as Taser International. In a research report released publicly on Wednesday , Spruce Point said it believes Axon will “shock” investors with “significant earnings disappointment” and increasing cash burn, as the maker of Taser stun guns and body cameras fails to scale beyond its niche businesses. In addition, Spruce believes investors “misunderstand” how tariffs on imports on China will weigh on margin growth. As a result, Spruce Point said the risk-versus-reward profile for investors who own the stock at current levels is “terrible.” With the stock’s valuation near all-time highs, and with Wall Street sentiment on the bullish side, the short-focused
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