Gun shares slide amid impressive vaccine data

Big 5 Sporting Goods

09/11/2020 15:49

** Gun shares, which have surged this year partly due to
pandemic fears, drop on positive Pfizer  PFE.N  data
    ** PFE says experimental vaccine it's developing with German
partner BioNTech  22UAy.F  was more than 90% effective in
preventing COVID-19  urn:newsml:reuters.com:*:nL1N2HV0TR
    ** Smith & Wesson  SWBI.O  down 10.2% and Sturm Ruger & Co
Inc  RGR.N  off 8.3% on Mon
    ** Vista Outdoor  VSTO.N  reverses course and now down
16.1%. Stock got initial boost premarket from KeyBanc upgrade on
Biden win, and brokerage pointing to high demand for products in
co's outdoor segment due to the COVID-19 pandemic  urn:newsml:reuters.com:*:nL4N2HV2ZT
    ** Gun stocks misfired on Weds as investors bet the U.S.
elections would result in a divided government, potentially
hampering legislation for more stringent gun control
 urn:newsml:reuters.com:*:nL1N2HQ2QX
    ** Despite declines on Mon, SWBI has more than doubled, RGR
up 42.2% and VSTO has jumped 163.4% in 2020

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com))