Axon Enterprise Inc. (NASDAQ: AXON) delivered a strong earnings report, but the stock fell in after-hours trading, and those losses carried over into the next day. The stated reason is inventory concerns, which are being enhanced by higher memory costs.
But the real culprit is a familiar one for AXON shareholders. The stock is overvalued, which means investors need a perfect earnings report, and Axon’s report came in slightly short of that.
