Firearms stocks rise after protests erupt in Minneapolis

Kustom Entertainment

12/04/2021 18:36

** Shares of gunmakers rise on Monday, with Smith & Wesson 
 SWBI.O  up ~3%, Sturm Ruger & Co Inc  RGR.N  up ~2% 
    ** On Sunday, police fired tear gas and rubber bullets as
angry protests erupted in Minneapolis suburb after a 20-year-old
Black man was shot dead during a traffic stop  urn:newsml:reuters.com:*:nL1N2M504Y
    ** Gun stocks and security service plays typically gain amid
civil unrest, as they did on Jan 6 when rioters breached the
U.S. Capitol  urn:newsml:reuters.com:*:nL1N2JH2D3 and last Jun following the death of
George Floyd in Minneapolis police custody  urn:newsml:reuters.com:*:nL4N2DE3BR
    ** On Monday, shares of ammunition and outdoor products
seller Vista Outdoor  VSTO.N  were up ~2%, while ammunition and
munitions provider Ammo Inc's  POWW.O  stock was up nearly 5%
    ** Also, shares of Digital Ally  DGLY.O , maker of body
cameras for law enforcement, up >5%
    ** Last week, President Biden announced measures to tackle
gun violence in the U.S., with the White House promising more
action was coming  urn:newsml:reuters.com:*:nL1N2M11T5
    ** On Apr 1, FBI data showed firearms background checks hit
record high in Mar  urn:newsml:reuters.com:*:nL1N2LU24Y
    ** SWBI up ~8% MTD, while RGR up ~6% this month

 (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))