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.
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.
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.
“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.”
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Additional information from Associated Press