Why Axon Enterprise Stock Gained Today

Axon Enterprise, Inc. AXON shares are trading higher Monday after the Federal Trade Commission dismissed its antitrust complaint against the company.

What To Know: Shares of Axon rose following the FTC's dismissal of its administrative enforcement action against the company. The complaint was related to Axon's 2018 acquisition of competitor Vievu.

In April, the company gained a U.S. Supreme Court Victory which confirmed federal court jurisdiction over Axon's constitutional challenges to the FTC's structure.

"The FTC's unilateral dismissal, intended to moot Axon's advancing constitutional claims in the District of Arizona, will result in a global resolution of both cases," said Pam Petersen, Axon's Vice President of Litigation and counsel of record for Axon in both the administrative and federal cases. "We intend to file a stipulation to dismiss our federal claims on Tuesday, ending this 5-year battle to protect our intellectual property and our investors."

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AXON Price Action: Shares of AXON were up 4.84% at $209.36 at the time of publication, according to Benzinga Pro.

Image by F. Muhammad from Pixabay