The stocks of firearm and ammunition manufacturers have risen since the school shooting in Uvalde, Texas, as investors bank on increased business.
Just hours after an 18-year-old gunman charged into an elementary school and killed 21 people, including 19 children, discussion about new gun control measures was already picking up. As is common after tragedies like Tuesday’s massacre, gun stocks have boomed.
Smith & Wesson, one of America’s largest firearm manufacturers, saw its stock pop by more than 13.5% since Tuesday morning, just before the rampage in Uvalde. That is much higher than the baseline increase in the S&P 500 of about 3.6% over that same period of time.
Sturm, Ruger & Company, the largest public gunmaker in the United States by value, has seen its stock surge by 7.5%.