Why This Taser Maker’s Stock Is Second-Worst in the S&P 500

Shares of Axon Enterprise declined sharply Tuesday and were one of the worst performers in the after the Taser maker announced plans to raise $1 billion, and potentially more, in debt. Goldman Sachs, Morgan Stanley, JPMorgan Securities, RBC Capital Markets, and Citigroup will be serving as joint managers of the offering. Axon has faced broader concerns about disruption by artificial intelligence and a decline in operating income throughout fiscal 2025, and shares have declined 42% over the last 12 months.