Stocks of US Gunmakers Rise Following Horrific Texas School Shooting

Share prices of a number of prominent US firearms manufacturers surged in the following days mass shooting at school in texas which has since claimed the lives of 19 children and two teachers.

Smith & Wesson Brands is up almost 10% in the last five days, reflecting the success of other manufacturers such as Ammo Inc (up 12.6%), Sturm Ruger (up 5.64%) and ammunition maker Olin (23.5% more). during the last month).

While the restrictions, some as impartial as background checks, have yet to be announced, investors are trying to snap up gun stocks at a price they think is cheap.

Gun sales are feared to spike after the Texas school shooting. (AP)
A 2019 study found that a “statistically significant” increase in gun sales occurred in the months immediately following each mass shooting.

A surge in share prices means investors anticipate a boom in gun sales before restrictions are introduced.

It remains to be seen how US politicians will deal with the fallout from one of the worst school shootings in more than a decade.

The share price of gunmaker Smith & Wesson has risen nearly 10 percent since the shooting. (Google Finance)

A bipartisan group of 10 senators led by Democrat Chris Murphy is discussing what they can do to reduce mass gun violence, with current suggestions including expanded background checks or “red flag laws” that would prevent some customers from buying firearms legally. .

It’s unclear whether the group can reach a consensus, and even if they do, winning enough votes from Republicans could prove difficult, since most don’t want to see changes to the nation’s gun laws.

Democrats would need 10 Republican votes to overcome a filibuster and get a bill through the Senate 50-50.

Senator Chris Murphy waits to speak to activists demanding action on gun control legislation after a gunman killed 19 children and two teachers at a Texas elementary school. (AP)

“The odds are against us, but we owe it to parents and kids to try,” tweeted Murphy, who has been an advocate for stricter gun control since 20 children and six educators were killed in the Sandy Hook Elementary School in 2012.

Murphy, who delivered an impassioned speech on the Senate floor Tuesday as news of the Texas shooting broke, has said he wants to start with proposals that are workable.

“There is a common denominator that we can find,” said Murphy.

“There is a place where we can reach an agreement.”



<p>In the largest mass shooting at a school in US history, gunman Seung-Hui Cho claimed the lives of 32 people at Virginia Tech on April 16, 2007.</p>
<p><strong>Click through to see some of the deadliest mass shootings in US history. </strong></p>
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IN PICTURES: The deadliest mass shootings in US history

Additional information from Associated Press

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