Several leading gun manufacturers saw their stocks go up in the aftermath of one of the deadliest mass shootings in U.S. history.
As of Monday morning, shares of Sturm Ruger were up about 6 percent, according to CNN, while shares of American Outdoor Brands, which is the company that used to be called Smith & Wesson, were up about 7 percent. Dick’s Sporting Goods' shares went up about 1 percent as well, with analysts citing the Las Vegas tragedy as part of the reason for the subtle spike.
So why in the world do some people feel better about investing in guns after what took place on Sunday night? Well, it seems gun stocks going up following mass shootings isn’t a new concept. The same thing has happened in the past in the immediate aftermath of the Pulse nightclub shooting in addition to other mass shootings. Stocks seem to go up because people believe these shootings could lead to stricter laws and regulations with regards to gun control, which would, in theory, lead more people to buy guns now while they still can.
But it’s worth noting that, while there is definitely a trend that has developed when it comes to gun stocks going up following mass shootings, the gun control laws that are on the books haven’t gotten any stricter in recent years. They've more or less stayed the same, which has led to an overall reduction in the number of guns sold recently with both Sturm Ruger and American Outdoor Brands reporting significant stock and revenue losses during their latest quarters. But that could, unfortunately, change in the coming months, as history has shown that people tend to lean towards buying guns rather than moving away from them in light of mass shootings.
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