Trump Buys $1M–$5M Axon Shares Ahead of Potential $220M ICE Contract
AXON•President Trump acquired $1M–$5M in Axon shares weeks before ICE solicited a potential $220M Taser 10 contract, triggering a 10% rally. CEO Rick Smith says Apollo cartridge redesigns will soon outperform nine-millimeter bullets and Q1 revenue rose 34% to $807M, the ninth straight quarter of 30%+ growth.
1. Presidential Investment Spurs Rally
President Trump purchased $1M–$5M of Axon shares weeks before US Immigration and Customs Enforcement solicited bids for a five-year, $220M Taser 10 contract, sending the stock up 10% in a single trading session.
2. Strong Q1 Revenue Growth
Axon reported $807M in first-quarter revenue, a 34% year-over-year increase marking its ninth straight quarter of 30%+ growth, with Software and Services contributing $355M, up 35%.
3. Progress on Apollo Cartridge
CEO Rick Smith says recent design modifications have improved performance in testing and expects the Apollo less-lethal cartridge to outperform nine-millimeter bullets by next winter.
