Top 9 AI News and Ratings Sending Shockwaves

5. Axon Enterprise, Inc. (NASDAQ:AXON)

Number of Hedge Fund Holders: 46

Axon Enterprise, Inc. (NASDAQ:AXON) is a public safety technology company. Its products include cameras, sensors, drones, robotics, and virtual reality training used by law enforcement agencies and military and civilians. Its solutions come integrated with artificial intelligence to enhance the processing of raw video frames and search video evidence for vehicles.

Axon Enterprise, Inc. (NASDAQ:AXON) was down by about 16% on February 19 after Northcoast Research analyst Keith Housum downgraded the stock from Buy to Neutral. The downgrade came amid concerns about the company’s prospects following the breakup with former partner Flock Safety. Additionally, the analysts raised concerns about Axon stock’s valuation as the company faces stiff competition following its split from Flock Safety, which offers automated license plate recognition technology.

An Axon spokesperson stated, “As Flock has increasingly imposed artificial barriers on integrations and access to agency-owned data, we have made the unfortunate decision to terminate our existing partnership with Flock.”