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Why is Axon Enterprise (AAXN) Soaring Today?

Madeleine Johnson

Shares of Axon Enterprise AAXN closed up 18.15% on Monday in the wake of nationwide protests against police brutality that occurred over the weekend.

Formerly Taser International, Axon sells law enforcement supplies like taser stun guns and body cameras, as well as software that allows police to store and analyze camera footage.

Investment firm Oppenheimer said in a note that Axon is one of several companies that could help in reform efforts of government agencies like police departments.

Axon now has a market cap of over $5 billion, and the stock has gained about 22.5% year-to-date.

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