The Packers waived Davis (ankle) from injured reserve with an injury settlement Thursday, Aaron Wilson of ProFootballNetwork.com reports.
Davis reverted to the Packers' injured reserve list after going unclaimed through waivers, but he'll now be free to join a new team once he clears his current ankle issue. The undrafted rookie wideout caught both of his targets for 45 yards, including a 33-yard touchdown, during his preseason debut but failed to make an impact during Green Bay's final exhibition game.