Gun stocks lose steam as McConnell backs gun legislation talks

Outdoor Holding

26/05/2022 20:49

** Gun stocks dip briefly in Thurs afternoon trade as Senate
Minority Leader Mitch McConnell signals willingness to work with
Democrats on potential gun control legislation in wake of a
massacre at a Texas elementary school on Tues
    ** McConnell has directed Republican Senator John Cornyn to
work with Democratic lawmakers on "bipartisan solution" to gun
violence, he told CNN https://www.cnn.com/2022/05/26/politics/mcconnell-cornyn-democrats-bipartisan-effort-gun-violence/index.html
    ** Smith & Wesson  SWBI.O  shares last up 1.9% and Sturm
Ruger & Co's  RGR.N  shares up 1.5%, off earlier session highs,
but adding to big gains on Weds
    ** Ammunition and outdoor products retailer Vista Outdoor
 VSTO.N  up 1.8%, while ammunition and munitions supplier Ammo
Inc  POWW.O  up 3.4%
    ** Firearms stocks tended to climb after mass shootings on
expectations that people might stock up on guns in anticipation
of stricter regulations
    ** The Texas gunman who killed 19 children and two teachers
on Tues was able to enter the elementary school without any
confrontation, authorities said on Thurs  urn:newsml:reuters.com:*:nL2N2XI1HP

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