Shares of Axon Enterprise jumped 10.5% after reports that President Trump bought the stock ahead of a $220 million TASER contract with Immigration and Customs Enforcement. Trump purchased between $1 million and $5 million in Axon stock on February 10, about two weeks before ICE solicited the five-year deal. The contract does not name Axon directly, but product specifications point to the company. The presidential stake is seen as likely to bring favorable treatment and more federal contracts, especially as defense-tech spending rises. Axon had reported 34% revenue growth in the first quarter, and the stock appears oversold after the broader software sell-off.
Axon Enterprise Inc.Trump's stake and ICE contract signal increased federal demand for Axon's TASER products.