Stock prices up ahead of House vote on concealed carry reciprocity
By Christen Smith
Share prices for major gun makers on the rise as Congress nears a vote on concealed carry reciprocity. (Photo: Richard Drew/Associated Press)
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 states and federal agencies to upload disqualifying records into the databases feeding the National Instant Criminal Background Check System — the application gun dealers use to verify a buyer’s identity and criminal history.
The system came under scrutiny last