Business
Why Axon Stock Got Slammed By Convertible: It’s The Cash Flow
Axon Enterprise (AXON) failed to bounce early Wednesday, a day after being among the biggest S&P 500 losers on Tuesday, as investors reacted negatively to its plan to issue $1 billion in 0% convertible notes. The Taser-maker said proceeds will fund operations, acquisitions, investments and the cost of the capped-call transaction, which is a hedge designed to limit share dilution.…
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