- REUTERS/Bazuki Muhammad
Shares of major gunmakers rallied in trading on Monday, one day after the deadliest mass shooting in US history.
Smith & Wesson shares jumped by as much as 11%, while Sturm, Ruger & Company shares rallied 8%.
At least 50 people died at a gay nightclub in Orlando on Sunday when Omar Mateen opened fire with an assault-style rifle.
Gunmaker shares have rallied after previous mass shootings that revived the debate about tougher gun-control laws.
And amid prior calls from the White House to toughen laws, gunmakers have reported increased demand for their products; the concern among consumers is that guns may be harder to buy in the future if stricter legislation is passed.
The Orlando shooting was “a further reminder of how easy it is for someone to get their hands on a weapon that lets them shoot people in a school, or a house of worship, or a movie theater, or a nightclub,” Obama said on Sunday.
Here’s the move up in Sturm, Ruger & Company:
And in Smith & Wesson: