Stocks in Smith and Wesson and other firearms companies rise in the aftermath of Texas shooting

Stocks in Smith and Wesson and other firearms companies rise in the aftermath of Texas shooting

Soccer News

Firearm firms see huge spike in sales and stock price after Texas school massacre as buyers fear crackdown on ownership following Biden saying ‘the Second Amendment is NOT sacred’

  •  Gun sales have rocketed and firearm firms have seen a spike in share prices after the deadly Texas mass shooting
  • Sturm, Ruger & Company, the largest publicly traded gunmaker in the US by market cap, soared 5.47 per cent to $67.27 as of 5pm ET
  •  It comes just days after President Joe Biden blasted the Second Amendment, said it was ‘not sacred’ and called for Americans to ‘stand up to the gun lobby’

By Ruth Bashinsky For Dailymail.Com

Published: | Updated:

Gun sales have rocketed and firearm firms have seen a spike in share prices after the deadly Texas mass shooting.

Sturm, Ruger & Company, the largest publicly traded gunmaker in the US by market cap, soared 5.47 per cent to $67.27 as of 5pm ET.

Smith & Wesson saw a eight per cent leap to $15.02 a share and ammunition maker Vista Outdoor surged 9 per cent to $38.24.

Meanwhile American Outdoor Brands hit $11.12 after a 6 per cent rise and Ammo Inc. climbed to about 5 per cent.

It comes just days after President Joe Biden blasted the Second Amendment, said it was ‘not sacred’ and called for Americans to ‘stand up to the gun lobby’.

The President reacted furiously after sick 18-year-old gunman Salvador Ramos shot dead 19 children and two teachers at Robb Elementary School in Uvalde.

Smith & Wesson Brands, the second largest gunmaker rose nearly seven percent, in the aftermath of Tuesday’s deadly mass elementary shooting that claimed the lives of 21 people, including 19 children, in the deadliest school shooting since Sandy Hook

 Gun owners are bracing for what is to come on Capitol Hill amid fears of gun control measures that may include enhanced background checks that would make it more difficult to purchase firearms

The stock market showed spiking interest in gun ownership in the days after the deadly shooting.

It is believed buyers are keen to arm themselves for self defense purposes and amid fears of a crackdown on buying weapons.

The same was seen in the wake of the Sandy Hook massacre in 2012 and San Bernardino shooting in 2015.

 Gun sales – such as Sturm and Smith – also spiked after both tragedies, according to reports.     

President Biden called for stricter gun laws following the Tuesday massacre: ‘Gun manufacturers have spent two decades aggressively marketing assault weapons which make them the most and largest profit.’

‘For God’s sake, we have to have the courage to stand up to the industry.’            

The  18-year-old shooter, Salvador Ramos, had legally purchased two semi-automatic rifles from a local outdoor and hunting store, according to officials and multiple news reports.

A Sturm Ruger firearm is pictured here.  Ruger & Company, the largest publicly traded gunmaker in the U.S. by market cap, rose 5.47% to $67.12 as of 12:45 a.m. ET.

The scene outside of Robb Elementary school after Tuesday’s deadly school massacre 

Police and emergency personnel responding to Tuesday’s deadly massacre 

   It was the deadliest such incident since 14 high school students and three adult staff were killed in Parkland, Florida in 2018 – and the worst at an elementary school since the 2012 Sandy Hook shooting in Connecticut, in which 20 children and six staff were killed.

‘The idea that an 18-year-old kid can walk into a gun store and buy two assault weapons is just wrong,’ said Biden. ‘As a nation, we have to ask: When in God’s name will we stand up to the gun lobby?’

He added: ‘Why are we willing to live with this carnage? Why do we keep on letting this happen? Where in God’s name is our backbone?’ 

More than two million handguns and rifles were sold since the beginning of the pandemic. Nearly one in five U.S. households purchased a gun since March 2020, according to a survey by the University of Chicago.

 Over the last two decades, one in 20 adults in the U.S. purchased a gun for the first time, bringing the percentage of U.S. adults now living in a household with a gun to nearly 50 percent, the survey shows.

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