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Gun-makers' stocks surge after San Bernardino shooting
[The Guardian] Smith & Wesson and Sturm, Ruger & Co jump early Thursday, part of a trend that has seen gun-makers' stocks quadruple S&P 500 returns in past five years.Stocks of two major gun-makers surged on Thursday morning, the day after a shooting in San Bernardino, California, left 14 people dead. More than an hour after the stock markets opened, Smith & Wesson stocks were up by 2.62%. Stocks of Sturm, Ruger & Co were up 1.67%. Gunmakers saw their stock rise even as the overall stock market fell on concerns that the Federal Reserve would raise interests later this month. Smith & Wesson and Sturm, Ruger & Co saw their stocks surge in October as well after a shooting at Umpqua community college in Oregon left 10 people dead, including the gunman. Investors are betting that the shootings will lead to more gun sales: a CNN Money analysis found that over the past five years these stocks have had four times the returns of the S&P 500 stock market. Posted by: Besoeker 2015-12-04 |
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