Orlando killings prompt share rise in US gun companies
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By Euronews
with Agencies
Shares in US gun companies saw stocks rise as a result of the mass murder in an Orlando LGBT nightclub.
It is a well observed phenomenon that firearm shares rise after a mass killing.
Gun makers Smith & Wesson, Ruger shares surge amid the aftermath of the #OrlandoShootinghttps://t.co/AkV0zkejlFpic.twitter.com/oEj459jOFl
— Intl. Business Times (@IBTimes) June 14, 2016
Analysts claim that consumers get spooked by the idea of tougher gun laws and rush to purchase.
Smith & Wesson saw gains of 6.9 percent while other manufacturers registered rises of up to 8.5 percent.
The numbers for the US gun sector are staggering $13.5 bn represents the annual revenue for gun and ammunition manufacture yielding a $1.5 bn profit.