Why Axon Enterprise Stock Is Sinking Today

Axon Enterprise (NASDAQ: AXON) stock is losing ground in Wednesday's trading. The policing technologies company's share price was down 8.2% as of 1:15 p.m. ET.

Axon's valuation is slipping today following a downgrade on the stock from an analyst. In a note published before the market opened this morning, Northcoast Research lowered its rating on the stock from buy to neutral.

Northcoast analyst Keith Housum lowered the firm's rating on Axon stock today, citing competitive pressures that are creating uncertainty for the company's outlook. In particular, Housum said that the fallout of Axon ending its partnership with Flock Safety was creating issues.

Source Fool.com