As expected, shares of several gun suppliers rose on Monday in the aftermath of the mass shooting in Las Vegas.
Shares of Sturm, Ruger rose $1.80, or 3.5 percent, to $53.50; American Outdoor Brands, formerly Smith & Wesson, gained 49 cents, or 3.2 percent, to $15.74; Vista Outdoor added 56 cents, or 2.4 percent, to $23.50; and Olin Corp gained $2.27, or 6.6 percent, to $36.52.
Demand for firearms typically jumps after mass shootings over concerns that stricter gun-control laws may be enacted. Share likewise often rise in anticipation. The mass shooting at an Orlando nightclub in June 2016 as well as the The Sandy Hook Elementary School Massacre in 2012 also led to rallies in gun stocks.
Following the 2016 election of Donald Trump, shares of gun makers have been under pressure due in part to expectations of less-strict gun control policies.
The attack in Las Vegas killed at least 58 and wounded 515 in what’s being described as the deadliest mass shooting on U.S. soil.
