Here’s How Gun Stocks are Moving After the Arizona Shooting
The Arizona shooting tragedy has brought guns back into the picture. An Arizona gun shop owner reports:
“We’re at double our volume over what we usually do,” [Greg] Wolff said two days after the shooting spree that also left 14 wounded, including Democratic Representative Gabrielle Giffords, who remains in critical condition.
As fear spreads about future violence and self-protection from other loonies, gun stocks hit the investing radar:
1) Smith & Wesson Holding Corporation (NASDAQ:SWHC): Smith & Wesson has a $226.5 million market cap and a brand name. The stock is popping 2% today, up to $3.75 a share. Investors will have to see whether demand for guns will be as strong as when firearm owners feared a revision of Second Amendment rights.
2) Sturm, Ruger & Company (NYSE:RGR): This gun maker sports a $296.2 million market cap. The stock is popping over 4% today, up to $15.75 a share. Shares are facing resistance at $16 and could pop on a breakout.
3) TASER International, Inc. (NASDAQ:TASR): Taser sells advanced Electronic Control Devices (ECDs). Although the media is focusing on guns after the Arizona shooting, Taser will still benefit from demand for self-defense instruments. Shares are flat at $4.86.
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