Gun Stocks Go Up After Las Vegas Shooting
Gun stocks have gone up since the Las Vegas shooting that killed at least 58 people and wounded 515 on Oct. 1.
Bloomberg Market Watch notes how the worst mass shooting in U.S. history helped gun makers:
“As news of the attack spread, firearm-related stocks began to rise. Olin Corp., the maker of Winchester ammunition, rose almost 7 percent. American Outdoor Brands Corp., formerly Smith & Wesson Holding Corp., was up about 3 percent, and Sturm Ruger & Co. rose almost 4 percent.”
“Following the Pulse nightclub shooting in Orlando, Fla., last summer, which left dozens dead, Sturm Ruger and Smith & Wesson saw stock prices increase. The same phenomenon occurred after the San Bernardino, Calif. shooting in late 2015, which left 14 dead…”
Bloomberg Market Watch reports that gun stocks and gun sales usually go up after a mass shooting because American gun owners fear more stringent gun-control laws.
Some consumers buy guns to defend against future attacks, which plays into the NRA myth that a “good guy with a gun” will stop a mass shooting, noted Mother Jones.