Firearms Stocks Surge After Trump Shooting -- WSJ

Dow Jones07-15

By Doug Cameron

Firearms-related stocks soar in early trade on Monday, a familiar pattern following other high-profile shooting incidents, and ahead of an expected bump in sales closer to the November election.

Smith & Wesson, the only large listed firearms maker, rose more than 12% in morning trade and bullet maker Ammo gained 18%, giving a jolt to what had been a sluggish sector this year. FBI background checks, a proxy for gun sales, fell 10% in June from a year earlier.

Summer is generally a slow sales period, and Smith & Wesson said last month it was discounting to shift some units.

Activity really kicks in usually towards the late summer or early fall through the election period," Chief Executive Mark Smith said on an investor call in June.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

July 15, 2024 10:40 ET (14:40 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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