Jim Cramer Recently Looked at These 18 Stocks

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

Number of Hedge Fund Holders: 61

While discussing Axon Enterprise, Inc. (NASDAQ:AXON), Cramer said that it has a “great software business.”

“Now, each day has its own Mosaic. We have Axon tonight, the law enforcement technology company that has so much business, they can barely handle it. It’s a new high natural. By the way, they have great software business growing at more than 30%.”

Axon (NASDAQ:AXON) produces TASER-branded conducted energy devices and provides a range of hardware, cloud software, and mobile tools that support public safety operations, evidence management, and real-time data integration across various industries. In a February episode of Mad Money, Cramer remarked:

“Now, biggest losers, one of them that has just been quietly going up over time, it’s called Axon Enterprise. It was formerly TASER, which plunged nearly 28% over the course of three days. Now, Axon has been a fabulous winner for years. It pivoted… to police body cameras, evidence management software Those were good businesses. So why then did the stock just get completely obliterated? Weirdly, there really wasn’t any bad news from the company. Instead, it was a one-two punch of downgrades from analysts at boutique research firms that failed Axon.

The first from Northcoast caused the stock to sink more than 16% last Wednesday before another downgrade from Craig-Hallum caused it to fall over 8% on Thursday.

The stock fell another 5% on Friday when the market wide selling really got going. Now Axon reports tomorrow after the close, but clearly people wanted to ring the register going into the quarter and the bearish analysts gave them a real excuse to do so. Very different attitude from what we’ve seen in the past few months, huh, where momentum stocks are frankly unstoppable.”