Smith & Wesson Holding Co.in Springfield, Mass., closed at $22.88, up $1.47, or almost 7 percent. The number fell to 1.87 million in May, the first month this year when applications slipped below 2 million.
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Since President Obama was reelected in 2012, Sturm, Ruger shares have soared 38%, while Smith and Wesson has climbed 64%.
Shares of BioScrip Inc (NASDAQ: BIOS) were down 10 percent to $6.84 as the company said it struck a deal to acquire HS Infusion Holdings Inc.in a synergistic, transformational and accretive transactions with considerable gains for all stake holders.
A man armed with an assault rifle and pledging loyalty to Islamic State killed 50 people during a gay pride celebration at a nightclub in Orlando, Florida early on Sunday.
Sturm, Ruger, for example, jumped almost 9 percent last November after the terrorist attacks that killed 130 people in Paris.
Vista Outdoor (VSTO), a Utah-headquartered company that designs, develops and manufactures ammunition, long guns and related equipment, traded almost 0.7% higher at $47.36.
Gun companies shares have risen strongly after every recent mass shooting incident as investors speculate that the atrocities might lead to tougher gun control measures.
Monday’s rally in firearm stocks is “based on an expectation that, over the next few months, you might see meaningful increased demand for firearms and ammunition”, said Rommel Dionisio, an analyst at Wunderlich Securities who follows the firearms sector closely. And sales surged to 1.5 million in December 2015 after the attacks in Paris and San Bernardino prompted calls for stricter gun-buying laws.
However, there is one consistent aspect of every mass shooting aftermath: an increase in gun sales.
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In trading on Monday, telecommunications services shares tumbled by 0.72 percent. Additionally, calls for gun control could spark firearm purchases by buyers anticipating potential sale restrictions on handguns and rifles. The Firm operates through two divisions: firearms and accessories. On Monday, Clinton renewed her call for an assault-weapons ban that could affect models like the AR-15, the type of weapon used in the attack on the Pulse nightclub.
