Shares of gun and ammunition manufacturers are moving higher following the assassination of conservative political activist Charlie Kirk in Utah, as well as a school shooting in Colorado.
Here is a look at several gun stocks and their midday price movement on Thursday.
- Sturm Ruger & Company (NYSE:RGR): +2%
- Smith & Wesson Brands Inc (NASDAQ:SWBI): +0.053%
- Olin Corp (NYSE:OLN): +2.59%
- Axon Enterprises (NASDAQ:AXON): +1.79%
- Digital Ally (NASDAQ:DGLY): -6.93%
- Outdoor Holding Company (NASDAQ:POWW): +4.64%
- American Outdoor Brands Inc (NASDAQ:AOUT): +0.69%
- GrabAGun Digital Holdings (NYSE:PEW): -4.22%
The companies above represent gun manufacturers, retailers that sell guns, and companies associated with the gun market.
GrabAGun is one of the newest public gun-related companies after completing a SPAC merger earlier this year. President Trump's eldest son, Donald Trump Jr., is an investor and a board member of the company.
Several of the stocks are giving back gains from Wednesday at the time of writing, but remain volatile following the prior day's events.
Kirk was shot at a public event at Utah Valley University on Wednesday and was later pronounced dead.
As of Thursday, the suspect remains at large and is believed to have fired one lethal shot at Kirk before fleeing the scene.
Also on Wednesday, a school shooting occurred at Evergreen High School, located around 30 miles from Denver. The suspect and two students died in the shooting, with three others hospitalized, according to NBC News.
Kirk’s death follows several other attacks on political figures in recent years, including the shootings of Minnesota’s Democratic Representative Melissa Hortman and Senator John Hoffman. Hoffman and his wife were hospitalized during the shooting. Hortman and her husband did not survive.
President Donald Trump was the target of an assassination attempt in July 2024 at an election rally in Butler, Pennsylvania.
There has been a rising wave of violent plots and attacks targeting politicians, including a fire at Pennsylvania Gov. Josh Shapiro's home, a kidnapping plot against Michigan Gov. Gretchen Whitmer, and an assault on former House Speaker Nancy Pelosi's husband. Members of Congress and judges nationwide are facing increased danger, exemplified by past shootings of Rep. Gabrielle Giffords in 2011 and Rep. Steve Scalise in 2017.
There have been 46 school shootings in the U.S. as of Sept. 10, according to data from the Gun Violence Archive, reported by CNN.
In the wake of political violence and school shootings, gun stocks traded higher Wednesday into the close and are trading higher on Thursday. Gun stocks often trade higher around violent events, as some believe that more regulation will come for the sector after the numerous deaths.
Heading into the 2020 election, background checks hit record highs before Joe Biden won the presidency. Gun stocks soared as the belief that regulation would come.
With gun supporter Trump in office and a Republican backed Congress, regulation on the gun sector is not likely, but remains something investors will be closely watching.
Read Next:
Image: Shutterstock
