Smith & Wesson stock opened near an all-time high on Friday after five police officers were killed and seven were injured in a shooting in Dallas. The gunmaker’s stock opened at $29.75 a share.
Earlier this year, the stock hit a record high on 18 March, trading at $30.44 a share. That day it closed at an all-time high of $29.37.
Stocks for Smith & Wesson rose about 3% on Friday while stocks for fellow firearm manufacturer Sturm Ruger went up by 5%. The shares surged in anticipation of higher gun sales due to fears of stricter gun control policies following the worst mass shooting of police in US history.
In addition to shares of gunmakers, shares of Taser and Digital Ally also surged on the news. The two companies make wearable video cameras worn by US police, and Taser also makes electroshock weapons used by some police.
Read the Full Article: Source – The Guardian
Time For Truth: (The Guardian) – Smith & Wesson stock opens near record high after Dallas shooting