1006 ET - Firearm-related stocks unsurprisingly soar in early trade, reversing what had been a sluggish market this year before Saturday. It's a familiar pattern following other high-profile shooting incidents. Smith & Wesson, the only large listed firearms maker, and bullet maker Ammo both up double digits. FBI background checks, a proxy for 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 ahead of an expected surge in sales closer to the general election. Smith & Wesson up 13% and Ammo rising 15%. (doug.cameron@wsj.com)
(END) Dow Jones Newswires
July 15, 2024 10:07 ET (14:07 GMT)
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