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DC – INDUSTRY INSIDER – Gun stocks surge after President Trump tweets about tightening regulations

Shares of shooting sports companies surged Monday, bucking the selloff in the broader stock market, after President Trump tweeted about pushing for stronger background checks for gun buyers in the wake of the tragic events over the weekend. Shares of Smith & Wesson parent American Outdoor Brands Corp. AOBC, +1.85% hiked up 2.4% in morning trading, while AR-556 autoloading modern sporting rifle maker Sturm Ruger & Co. RGR, -0.59%  climbed 1.3%. Meanwhile, ammunition maker Vista Outdoor Inc.’s stock VSTO, +0.95%  gained 0.1%, to pare earlier gains of as much as 2.0%. The gains come while the Dow Jones Industrial Average DJIA, -2.58%  sank 550 points, or 2.1%, and the S&P 500 index SPX, -2.61%  shed 2.1% as trade tensions intensified. See Market Snapshot. Industry analysts have said that the regulatory environment is among the biggest drivers of the firearms market, as concerns over tighter regulations had boosted gun sales and shooting sports company stocks in the past. [full article]

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