Gun stocks rise in wake of Las Vegas mass shooting

Gun stocks rise in wake of Las Vegas mass shooting”

The shooting in Las Vegas has once again fuelled the debate on gun laws in the United States, with many calling for tighter controls.

The grim predictability of stock-market reactions to US mass shootings-where before a final tally of casualties can be reached, shares of gun makers rise-continued Monday in the wake of a Las Vegas attack that killed at least 58 and wounded 515. American Outdoor Brands Corp., formerly Smith & Wesson Holding Corp., was up about 3 percent, and Sturm Ruger & Co. rose nearly 4 percent. And the Olin Corporation, which owns the Winchester brand of ammunition, saw a 6% rise to an all-time high, CNN reports. The Aurora, Colorado movie theater and Sandy Hook Elementary School in Newtown, 2012.

It also noted that simply buying American Outdoor Brands - which changed its name from Smith & Wesson at the beginning of the year - at the start of January 2007 would have delivered a return of 137%.

According to analysts gun stocks tend to rise after mass shootings in the country.

Overall, gun stocks are down under President Trump compared to President Barack Obama.

So why do gun stocks jump after a shooting?

On 16 January 2013, the day Mr Obama said he would "put everything I've got" into gun controls, shares of Smith & Wesson rose by almost 6%.

"These attacks, which are becoming too common, too regular and a seemingly inherent part of our cultural landscape", she adds, "have potential buyers of guns wondering if they would be more hard to buy, or even outlawed". If Hillary Clinton was elected as president, it would have been likely that she would have followed similar gun control laws Obama did when he was president. After the 2016 election of Donald Trump, who has espoused less-strict gun control policies than those of his Democratic predecessor, gun stocks sank.

Gun-makers have responded to recent events by seeking to diversify into other product areas.

As of Friday's close, American Outdoor Brands was down almost 28 percent for the year.

And Asda, the UK's third biggest grocery retailer, is part of Wal-Mart - America's largest retailer of firearms.

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