Investing.com -- Axon, the technology and weapons company, experienced a significant drop on Monday, with its shares falling 8.0% to $553.13.
This decrease led to a reduction in the company's market capitalization by approximately $3.65 billion.
Monday's drop was the steepest intraday fall for Axon since May 10, 2023, with the company's shares dipping as much as 8.5%.
This decrease led to the company's shares hitting their lowest level since November 8, 2024, at $550.20.
Despite the recent drop, Axon's performance over the past year has shown growth.
As of the last close, Axon's stock had risen 1.1% this year and had seen a substantial increase of 146% over the past 12 months.
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