By Tom Knighton
With so many mass shootings over the last couple of months, it’s easy to believe that even with the massive Black Friday, there’s still little good news for the firearm industry. However, as news broke of national reciprocity being so close to becoming law, it appears that stocks for gun companies started rallying.
An impending vote on concealed carry reciprocity may have bumped share prices for major gun makers up 3 percent this week.
Stock for American Outdoor Brands — the holding company of Smith & Wesson — and Sturm, Ruger and Co. closed 3.55 percent and 2.87 percent higher Monday. Share prices for Vista Outdoor — owner of more than three dozen companies in firearms, ammunition and shooting accessories, including Savage Arms, Stevens, Federal Premium, Speer and American Eagle — likewise climbed more than 5.6 percent.
The market reaction follows chatter on Capitol Hill over H.R. 38, the Concealed Carry Reciprocity Act of 2017, as it winds its way through committee in preparation for a floor vote later this week. Lawmakers will likely amend portions of the Fix NICS Act into the measure in an attempt to bring Democrats on board, Guns.com previously reported.
Fix NICS incentivizes …Read the Rest
Source:: Bearing Arms