Gun shares slip after Colorado mass shooting

Big 5 Sporting Goods

23/03/2021 15:06

** Shares of gun makers slip on Tues, a day after 10 people
were killed in Colorado grocery store, marking second mass
shooting in U.S. in a week  urn:newsml:reuters.com:*:nL1N2LL0AT
    ** Smith & Wesson's  SWBI.O  stock down 1.2%, while Sturm
Ruger & Co Inc's  RGR.N  shares off 1.7%
    ** Shares of ammunition and outdoor products seller Vista
Outdoor  VSTO.N  unchanged; ammunition and munitions provider
Ammo Inc's  POWW.O  stock down 5.7%
    ** Gun stocks in the past tended to climb in wake of mass
shootings on expectations that people might stock up on guns in
anticipation of stricter rules
    ** But stricter gun control legislation may face a tougher
battle in the U.S. Senate, where President Joe Biden's fellow
Democrats hold an even slimmer majority than in the House of
Representatives  urn:newsml:reuters.com:*:nL1N2L91TX
    ** Firearms shares have surged amid COVID-19 fears, civil
unrest in many cities and concerns of stricter regulations under
a new government
    ** Over the past year, SWBI up ~160% and RGR up ~50%. VSTO
and POWW have both soared ~300% over the same time frame

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))