Axon Enterprise Inc. (NASDAQ:AXON) stock traded higher on Monday morning, following a report stating that President Donald Trump purchased up to $5 million worth of company shares.
The acquisition occurred two weeks before U.S. Immigration and Customs Enforcement (ICE) introduced a $220 million procurement plan that aligns with the company’s core technology offerings, according to the CNBC report.
Federal financial disclosures filed in May indicate that Trump purchased between $1 million and $5 million of AXON stock on Feb. 10.
On Feb. 24, ICE issued a procurement notice seeking approximately 17,800 new Tasers, alongside unlimited cartridges and training.
The timing of the stock purchase also followed an incident in Minneapolis where federal agents fatally shot two U.S. citizens during an immigration crackdown protest.
