Gun Stocks on the Move in Wake of Deadly Mass Shootings
It was bad enough to have one mass shooting at a Walmart store in El Paso, Texas, this weekend, but then another mass shooting took place in Dayton, Ohio. Dozens are dead and even more are injured. Shares of the so-called gun stocks reacted to the news.
In an effort to avoid conflicts of opinion on gun control versus the Second Amendment in the aftermath of such horrible news, the moves in these share prices have been posted here without comment.
Sturm, Ruger & Co. Inc. (NYSE: RGR) was last seen trading up 1.6% at $46.60, after hitting a high of $47.60 earlier in the morning.
American Outdoor Brands Corp. (NASDAQ: AOBC), the parent company of Smith & Wesson, was up 2.5% at $8.86 on Monday. It traded as high as $9.27 earlier in the morning.
Vista Outdoor Inc. (NYSE: VSTO), the top maker of ammunition, was last seen trading down about 0.3% at $7.36 on Monday. It traded as high as $7.53, after closing at $7.38 on Friday.
Dick’s Sporting Goods Inc. (NYSE: DKS), which has changed its gun sales policy against assault-style rifles and has raised its gun-buying age to 21, was still down 3.7% at $32.54 on Monday.
Shares of Olin Corp. (NYSE: OLN), which is diversified but also still owns the Winchester brand of ammunition products, traded down 3.6% at $17.80 on Monday. It had gone as high as $18.60 earlier on Monday, but its closing price was $18.46 on Friday.
These moves actually look muted compared with prior reactions to mass shootings. The escalating U.S./China trade war had most stocks lower on Monday, even after last week’s selling pressure. The Dow Jones industrials were last seen down 550 points (−2.1%), the S&P 500 was down 64 points (−2.2%) and the Nasdaq Composite was down 230 points (−2.8%).