What Happened?
Shares of non-lethal weapons company Byrna (NASDAQ: BYRN) jumped 3.7% in the morning session after the company announced the appointment of two new members to its Board of Directors.
Byrna, a personal defense technology company, appointed Adam Roth, former Vice President of North America Marketing at Nike, and TJ Kennedy, a veteran technology and public safety executive. The company stated these appointments bring proven expertise in global brand building and public safety technology leadership. This strategic move, which expands the board from five to seven members, is aimed at helping Byrna grow its consumer reach and build on its presence in the security and public safety markets. Investors appear to view the addition of these experienced executives as a positive development for the company's future growth strategy.
After the initial pop the shares cooled down to $19.93, up 2.4% from previous close.
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What Is The Market Telling Us
Byrna’s shares are extremely volatile and have had 74 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 23 hours ago when the stock dropped 2.8% as concerns about the health of the U.S. economy grew following a significant downward revision of job market data.
The Labor Department reported that employers added 911,000 fewer jobs from April 2024 through March than initially estimated. These "benchmark revisions" are issued annually to more accurately account for new and defunct businesses. The report detailed that the leisure and hospitality sector added 176,000 fewer jobs, professional and business services 158,000 fewer, and retailers 126,000 fewer. This weaker-than-expected data has fueled investor anxiety, as it suggests businesses may be becoming more reluctant to hire amid economic uncertainty. The numbers issued are preliminary, with final revisions scheduled for February 2026.
JPMorgan Chase CEO Jamie Dimon added that the U.S. economy is "weakening," though he stopped short of predicting a recession. "Whether it's on the way to recession or just weakening, I don't know," he said. Dimon's remarks are closely watched, given his influence as head of one of the nation's largest banks.
Byrna is down 29.6% since the beginning of the year, and at $19.93 per share, it is trading 41.7% below its 52-week high of $34.19 from February 2025. Investors who bought $1,000 worth of Byrna’s shares 5 years ago would now be looking at an investment worth $1,139.
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