Gun maker stocks rise in wake of Orlando shooting
Shares of Smith & Wesson Holding Corp. of Springfield jumped more than 7 percent Monday in the wake of the Orlando mass shooting that was the worst in US history.
Another publicly traded gun company, Sturm, Ruger & Co. of Southport, Conn., saw its shares climb nearly 10 percent, as investors bet on higher gun sales driven by fears of stricter gun control following the shooting.
Gun stocks generally have climbed after US mass killings, when gun advocates grow concerned about stronger controls for firearm purchases.
But such legislation has failed repeatedly. Hillary Clinton, the presumptive Democratic nominee for president, on Monday called for the reinstatement of an assault weapons ban, after a shooter killed 49 people in a gay nightclub in Orlando early Sunday.
Nearly 6,000 people have been shot to death in the United States so far this year, according to the Gun Violence Archive, a nonprofit that tracks the data.