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NAT’L – INDUSTRY INSIDER – Gun Company Stocks Rebound as Coronavirus Sends Market Tumbling

Business closures and lockdowns have dealt withering blows to the economy since the novel coronavirus first emerged as a global threat, causing stocks to tumble. But after initially sliding along with the rest of the market, publicly traded gun companies have rebounded decisively. Since March 10, panic buying of guns and ammunition has helped drive a steep rise in stock prices for American Outdoor Brands, the parent company of Smith & Wesson; Vista Outdoor, which owns several ammunition companies; and Sturm, Ruger & Co. All three companies posted dramatic gains through the past week. As of March 17, American Outdoor Brands showed the strongest weekly change in stock price — a more than 40 percent increase — of any company in the Electronic Technology sector, which includes brands like Texas Instruments and Apple. Firearms accounted for nearly 75 percent of  American Outdoor Brands’ net sales in 2019, according to its annual fiscal report. Vista Outdoor and Ruger, likewise, led the Consumer Durables sector by huge margins, more than tripling the weekly increase of their nearest competitors. [full article]

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