Shares of stock in gun companies rose Monday in U.S. markets following the deadliest mass shooting in the nation’s history, continuing a trend seen after recent attacks.
Shares of Sturm Ruger, Vista Outdoor and American Outdoor Brands, formerly Smith & Wesson, each rose about 4 percent, reports MarketWatch.
Stephen Paddock, 64, opened fire on a crowd of 22,000 people at a Jason Aldean concert from a 32nd-story room at the Mandalay Bay Resort and Casino, killing at least 58 people and wounding at least 515 late Sunday night in the worst mass shooting in U.S. history, police say. Paddock killed himself as police stormed his hotel room. Authorities said he had at least 10 rifles in the hotel room.
The gains in gun stocks appear to reflect predictions of a rise in firearms sales ahead of possible tighter regulations in the wake of the incident, along with greater interest by consumers in arming themselves for protection, reports CNBC.
After mass shootings at the Pulse nightclub in Orlando, Fla., and an office building in San Bernardino, Calif., “you saw a two- to three-month surge in firearms sales,” said Rommel Dionisio, managing director at Aegis Capital. He told CNBC that while a national change in gun laws appears unlikely, the Las Vegas attack may spark state legislation.
After the Sandy Hook Elementary School shooting in Newtown, Connecticut, gun company stocks fell.
Gun stocks overall have fallen sharply since the…