This Nasdaq-100 stock has gained 110,600% since its IPO and it's still a Buy heading into 2025 as per Wall Street analysts

Nasdaq-100 boasts of some of the most exquisite and premium stocks, and Axon Enterprise is the latest addition to this Nasdaq Composite, which is under close scrutiny this week based on its recent volatility factors. However, whatever the case with Nasdaq 100, Axon remains a wonderful addition to the core, after it replaced biotechnology company Moderna, as part of Nasdaq-100's annual rebalancing.

Axon Enterprise's surreal growth makes it replace Moderna at Nasdaq Composite

Moderna, the company Axon replaced, had been performing quite well over the last couple of years, due to the demand of massive medications across the world due to the Covid-19 pandemic, as well as the need for vaccinations. However, its growth rate had come to a slight halt towards the end of 2024, and now Axon Enterprise will be taking its place, which is boasting of gain percentages of 110,600% since its IPO kicked off in the mid-2001s.

Why is Axon Enterprise so popular among US investors?

Although this kind of growth seems scary at the US stock market, US investors are still flocking in to take holding of this stock before the prices of it surge even higher as per reports. Axon is focused around law enforcement-related equipment, with their biggest boast being flagship Taser stun gun. The company's mission from the start has been to decrease suspect injuries, increase the safety of law enforcement officers across the country, and improve community relations between the public and the police, which are the core reasons why Axon is so popular in the US.