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US gun maker shares soar after Pulse nightclub massacre [View all]
Source: The Guardian
US gun maker shares soar after Pulse nightclub massacre
Shares in two biggest gun manufacturers Smith & Wesson and Sturm
Ruger & Co rose by 10% and 9% amid fears US will impose tougher
gun control measures
Rupert Neate in New York
Monday 13 June 2016 15.30 BST
Gun company shares soared on Monday as traders predicted that Americans will react to the Orlando massacre by rushing out to arm themselves with more guns.
Shares in the two biggest listed US gun manufacturers Smith & Wesson and Sturm Ruger & Co rose by 10% and 9%, respectively.
Gun companies shares have risen strongly after every recent mass shooting incident as investors speculate that the atrocities might lead to tougher gun control measures. Fear that stricter gun laws might be enacted cause more people to buy guns, especially semi-automatic assault rifles like the AR-15 used by Orlando killer.
Smith & Wesson, which sold a record $627m worth of guns and accessories last year, is expected to report even higher sales this year when it releases its full-year results on Thursday.
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Shares in two biggest gun manufacturers Smith & Wesson and Sturm
Ruger & Co rose by 10% and 9% amid fears US will impose tougher
gun control measures
Rupert Neate in New York
Monday 13 June 2016 15.30 BST
Gun company shares soared on Monday as traders predicted that Americans will react to the Orlando massacre by rushing out to arm themselves with more guns.
Shares in the two biggest listed US gun manufacturers Smith & Wesson and Sturm Ruger & Co rose by 10% and 9%, respectively.
Gun companies shares have risen strongly after every recent mass shooting incident as investors speculate that the atrocities might lead to tougher gun control measures. Fear that stricter gun laws might be enacted cause more people to buy guns, especially semi-automatic assault rifles like the AR-15 used by Orlando killer.
Smith & Wesson, which sold a record $627m worth of guns and accessories last year, is expected to report even higher sales this year when it releases its full-year results on Thursday.
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Read more: http://www.theguardian.com/us-news/2016/jun/13/gun-company-stocks-rise-orlando-pulse-attack
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