They say gun stocks go up in the immediate aftermath of mass shootings, and #Roommates it’s looking like that may be #facts. According to CNN Money, the trend has proven itself to be true in the wake of last night’s Las Vegas shooting.
CNN reports that shares of Sturm Ruger are up by 4 percent, American Outdoor Brands — formerly known as Smith & Wesson — is up by 3 percent, and Olin is up by an all-time high of 6 percent.
Why? It appears that gun supporters fear their weapons will be taken away so they buy more. Case in point, when Trump won the presidency, sources say gun company sales and profits decreased. It makes sense considering he was endorsed by the National Rifle Association. Meanwhile during President Obama’s two terms, “gun aficionados bought more firearms just in case rules changed at a national level or in individual states controlled by Democrats,” CNN reports.
Gun stocks also saw an increase after 2016’s Pulse nightclub shooting, 2015’s San Bernardino terrorist attack, and 2002’s Sandy Hook Elementary School shooting.
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