Gun and Ammo Companies’ Stocks Go Through the Roof on the First Business Day After Trump Tried to Kill Someone
After the failed attempt to kill Donald Trump, the stock prices of companies that make guns and ammo have gone through the roof.
Monday was the first day the markets were open since the shooting at a rally in Pennsylvania on Saturday. Shares in big gun stores went up, some by more than 10 percent.
He told the New York Times in 2022, after a mass shooting, “The gun industry has perverse incentives.” Dru Stevenson is a professor at South Texas College of Law in Houston. “because when things like this happen, sales and stock go up.”
These kinds of spikes often happen after high-profile killings, like mass shootings, because gun owners in the U.S. are looking forward to stricter gun laws. In the event of hypothetical crackdowns, some people buy more guns out of fear that they will become harder to get. People are also worried about their safety.
A liberal think tank called the Center for American Progress’s Alex Barrio told the New York Times in 2022, “Stocks are going up because people think there will be a spike in gun sales, not because they think there will be new restrictions.” “You’re betting on fear.”
Monday, Smith & Wesson stock went up about 11.5% to $15.63 per share, and Sturm Ruger & Company stock went up about 7% to $44.24 around noon.
Some other companies that saw big jumps were Ammo Inc., whose stock price went up by about 15%, and Vista Outdoor Inc., whose stock price went up by about 1.15 percent.
After the failed attempt on Trump’s life on Monday, the US markets generally did well, with the Dow Jones reaching a new high.
The company behind the ex-president’s social media site Truth Social, Trump Media & Technology Group, went up more than 50 percent in heavy volume before cutting its gains to about 33 percent.
After what happened, the former president went on Truth Social to send a defiant message, telling his fans to “stand united” and “remain strong and determined.”
“Thank you all for your prayers and thoughts yesterday. Only God could have stopped the unthinkable from happening,” he wrote.
“We will NOT be afraid. Instead, we will stay strong in our faith and defiant in the face of evil.”