Axon Enterprise (AAXN-Q)

The sector is growing--there's a need for law enforcement tools around the world--but AAXN has only recently been profitable. He wants to see a sustained, long-term track record in a company. This is too early.

With the stock up 146% this year, some consolidation was needed and is probably healthy. We are seeing some big hits in many stocks today, with most having no news. Fundamentals are strong and estimates have ticked up in the past four weeks. The company has only really started to penetrate international markets, and likely has many years of growth ahead of it. It is not cheap, though, and investors are paying up for its market share and reliability. We would be very comfortable holding a position and buying into any futher weakness. 
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Business is good, and stock momentum excellent. Timing is rarely perfect. We would be OK adding a partial position for an investor just entering the stock. We think existing holders can wait a bit before adding: it is not likely to be a straight line up. 
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The question was on Axon but the guest doesn't cover it.

We can't of course predict prices with much accuracy, but it was a solid quarter for the company and things continue to look good. We would suggest buying half and filling the position if/when it consolidates a bit. 
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Manufactures tasers. A highly domestic kind of business. Have consistently been growing its EBITDA. Margins are very strong. Has been looking at this name for quite a while, but it just keeps running away from him. If you are looking for a name with a good alpha, and a domestic business, this is a good name to own. Trading at something like 50X earnings.

(Best call ever made.) He got in very early and this did very, very well. Stock went on to increase by 30X.