It’s Time to Lock in Big Gains on This Holding
An overbought condition also prompts a rating downgrade.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
| AXON | Sell | 77 | 597.16 | 423 | 4.0 |
After you receive this Alert, the Pro Portfolio sell 77 shares of Axon Enterprise (AXON) at or near $590. Following the trade, we will own 423 AXON shares, accounting for roughly 4.0% of the Pro Portfolio’s assets.
The time has come to take advantage of the continued climb in AXON shares, which has them up almost 45% in the last seven trading days and landed them once again in overbought territory.
We continue to see Axon benefiting from adoption of its products and services, including productivity driving AI. While that keeps us long-term bullish on the name, prudent portfolio management is leading us to lock in a slice of these substantial and rather quick gains that have moved AXON to an outsized position in the Pro Portfolio.
As we make this move, given the overbought condition, we will downgrade AXON to a Two rating from One.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade’s executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long AXON.
