The Orlando shooting, which constitutes the biggest attack on US soil since 9/11, has again brought to the fore the tortutous argument about the right to bear arms as specified in the 2nd Ammendment of the constitution. However, that has not deterred people from backing firearm making companies in the stock market since they believe that gun sales are going to soar just like it did after the gruesome Sandy Hook shooting. The Orlando shooting at a gay night club in the city resulted in 50 deaths and has brought the nation to a standstill has triggered another furious debate among pro-gun lobby and those who call for strict gun controls across the country. However, the stock market shows that investors believe that gun sales are going to go through the roof in the near term. In fact, last January, when US President Barack Obama had stated that the government would call for greater checks. the sales of guns across the country had soared as well.
According to a report on Reuters, "Smith & Wesson Holding Corp's shares rose as much as 11.6 percent, while those of Sturm Ruger & Co Inc. jumped 10.7 percent." The report further added, "The Orlando shooting is also expected to reignite emotional debates over American gun laws and homeland security in what is shaping up to be a vitriolic U.S. presidential campaign between Democrat Hillary Clinton and Republican Donald Trump.However, several gun shop owners and managers interviewed by Reuters said they were yet to see an increase in gun sales or ammunition following Sunday's shooting."
According to most industry watchers, the recent tragedy has not yet resulted in a spike in sales like in case of Sandy Hook but comments by people in positions of influence has resulted in the rise in stock prices of major firearm makers. The Reuters report stated, "Smith & Wesson shares were up 6.6 percent at $22.82 in late afternoon trading, while Sturm Ruger's shares were up 8.3 percent at $62.16. Up to Friday's close, Smith & Wesson's stock had risen 39 percent in the past 12 months, while Sturm Ruger's shares had risen about 6 percent."
