Gun stocks rise after congressional shooting
By Christen Smith
Gun stocks for two major brands rose last week after a gunman opened fire on Republican lawmakers practicing for a charity baseball game.
Sturm Ruger and American Outdoor Brands rose 1.79 percent and 1.11 percent, respectively, in the hours after 66-year-old James Hodgkinson wounded four at the Eugene Simpson Stadium Park in Alexandria, Virginia, Wednesday morning — including House Majority Whip Steve Scalise.
Both stocks typically react to shooting incidents “as investors gauge the potential implication gun demand,” according to Seeking Alpha.
The Bureau of Alcohol, Tobacco, Firearms and Explosives confirmed last week a 7.62mm caliber rifle and a 9mm handgun were recovered from the scene.
American Outdoor Brands is the nation’s top handgun retailer and some believe escalating tensions at home and abroad will ultimately bring profits to an industry trying to climb out of last year’s shadow.
“We are continuing to see brisk sales of self-defense and concealed carry firearms,” Justin Anderson, marketing director for Hyatt Guns, told Seeking Alpha earlier this month. “We’re also continuing to see new gun buyers. People are nervous about their safety, and rightly so. It’s a dangerous world we live in and American citizens know that we’re not immune to terrorist attacks. They’re taking the necessary steps