The Stock Market Indices Finished Tuesday in The Red Despite Rallying in The Early Hours of The Trading Day
The stock market indices finished the day in the red, despite rallying at the beginning of the trading hours.
The market's movements remind me of a yo-yo. It just bounces up and down without any ultimate direction. Investors are not sure what to do with inflation fears, but the Fed has kept its favorable policies, and no one can decide where to go from here.
Yo-yo up …
Yo-yo down ...
Shares of Lordstown (RIDE) Are Up Nearly 20%, Thanks to An Upcoming Show and Tell Event
From the winners' list of the day, I noticed electric truck maker Lordstown (RIDE) was up more than 19%. We have seen EVs taking a beating recently, so I got curious that the stock was up that much.
It seems the stock is up over theannouncement of a weeklong show and tell event. One of the challenges Lordstown faced in the past was that the product still wasn't out. The company plans to showcase how it is ready to get the world's first all-electric commercial pick-up truck out in September.
It seems all it takes to move a stock these days is a marketing and PR event to show off. I'm interested to see what the management has to say about this event on May 24th when the company releases its latest earnings report.
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Shares of Axon Enterprise (AXON) Dropped More Than 6% Despite The Company's Robust Market Opportunity
Remember we spoke about ShotSpotter (SSTI) a few days ago and compared it with Axon Enterprise (AXON). Both companies provide technology solutions to police and security personnel, with the difference that ShotSpotter is just starting and Axon has owned the market for a long time.
Today, ShotSpotter jumped more than 9%, while Axon lost more than 7%. With this price drop, Axon's stock is getting more attractive. Both stocks are worthy of a spot on your watchlist due to the growing demand for a technology-enabled police force.
According to Axon's latest investor presentation, Police Technology is a $27 billion addressable market. The vision that Axon paints for the future is quite compelling. By 2023:
Axon will reimagine public safety, and that's a vision I would like to be a part of.
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