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.
ICE Specifications Align With Axon Product Profile
The federal procurement notice did not explicitly name the hardware manufacturer. However, data from investment firm Brown Advisory indicates that Axon Enterprise produces nearly 90% of all U.S. Tasers.
Procurement reviewers and three policing experts cited in the report stated that the specifications and capabilities outlined in the ICE notice align exclusively with Axon products.
CNBC reported that no evidence exists to show Trump was involved in or aware of the procurement process.
Additionally, there is no indication that contracting officials knew about the asset purchase or that the company knew that Trump was a shareholder.
The notice was issued under standard federal procurement processes, and no contract has been awarded.
White House Maintains Independent Trust Structure
The Executive Branch previously stated that Trump’s investments are held in an independently managed trust, leaving him with no role in active trading decisions.
However, ethics filings reveal prior instances where Trump acquired stakes in corporations, such as Dell Technologies and NVIDIA Corp, before publicly praising them or enacting policy decisions that impacted their international business operations.
Historical Trading Context and Asset Reallocations
The report follows recent public statements regarding executive stock portfolios. Last week, Trump expressed regret over selling his International Business Machines Corp. stock too early after praising the company’s domestic chip fabrication advancements, stating, “I used to have that stock when it was much much lower. I brilliantly sold it when I became president.” He added, “That was not a good move.”
AXON Price Action: Axon Enterprise shares were up 9.89% at $510.79 at the time of publication on Monday, according to Benzinga Pro data.
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