Axon Fell 20%+ in Two Days, Lowest Since August 2024

Axon Enterprise (AXON), the maker of the Taser, fell about 16% on Fri, Nov 6, 2026, to about $320.

November 6, 2026 · 218 views · YouTube video: Axon Fell 20%+ in Two Days. Lowest Since 2024

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Quick overview

Axon fell about 16% intraday on Nov 6 after a 9.8% drop Thursday: more than 20% in two days.
Q3 revenue rose 28% to $908.6M but missed estimates; adjusted EPS was $1.72 vs about $1.89 expected.
About $130M of federal Dedrone drone deployments slipped out of 2026, so Axon cut its revenue outlook.

-16% Friday, Nov 6 (intraday)
-20%+ In two days
-40%+ In 2026, from $567.93

What happened

Axon dropped about 16% on Friday to roughly $320, losing more than $4B in market value in one session (Yahoo Finance, about 2:25 PM ET). With Thursday's 9.8% fall, the stock is at its lowest level since August 2024.

It started 2026 at $567.93 and is now down more than 40% this year. Its record close was $870.97 on Aug 7, 2025. Since then, more than $40B in market value is gone.

Why it matters

Q3 revenue grew 28% to $908.6M, but that was below estimates, and adjusted EPS of $1.72 came in under the roughly $1.89 expected. Axon also lowered its 2026 revenue outlook because about $130M of federal Dedrone drone deployments are no longer expected this year (Investing.com, StockStory).

Growth is still there, but the stock was priced for more. A miss plus a guidance cut tied to government timing was enough for a sharp repricing.

Watch the 30-second breakdown on YouTube: Axon's drop in hard numbers.

FAQ

Why did Axon stock fall in November 2026?

Q3 revenue ($908.6M) and adjusted EPS ($1.72 vs about $1.89 expected) missed estimates, and Axon cut its 2026 revenue outlook after about $130M of federal Dedrone drone deployments slipped out of this year.