Gun Stocks Skyrocket Following Proposed Reforms

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Gun Stocks Skyrocket Following Proposed Reforms

Gun Stocks Skyrocket Following Proposed Reforms by James Fattal

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Tuesday night saw an emotional President Barack Obama call for a national “sense of urgency” to limit gun violence, seeking to expand background checks for buyers.

Today has seen a backlash of opposition with Republicans vowing to undo the reform, but what does this mean for the gunmakers themselves and indeed gun sales for the immediate future?

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Gun stocks skyrocketed to highest value ever

Perhaps unsurprisingly, shares in Smith & Wesson rose to their highest value ever. Its stock price skyrocketed to $26.54 setting a record for intraday value and finished on $25.86, an 11.08 percent increase and the highest the company has ever traded on Nasdaq since 1999.

“The gun stocks always go on a tear whenever the threat of gun control legislation appears, and this rally is no different,” said Jesse Cohen, Senior Editor at Investing.com.

“SWHC and RGR, which are up 180% and 89% respectively over the past 12 months, probably have more room to run higher in the months leading up to the U.S. presidential elections, as end-of-term potential for regulation will result in consumers rushing to purchase firearms they believe may soon become unavailable.”

Please see below for Smith & Wesson Holding Corporation’s stock price since October:

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