Gun stocks rally amid nationwide protests and looting
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- Gun stocks surged through Monday's session after several of the weekend's police-brutality protests turned violent.
- Smith & Wesson climbed as much as 28%, while Taser-manufacturer Axon Enterprises jumped as much as 21%. Sturm Ruger gained 12.5%.
- Demonstrations in response to the death of George Floyd escalated to feature looting, police violence, and property damage throughout the weekend. Gun stocks typically jump when investors fear near-term firearm regulation.
- Gunmakers had already enjoyed hefty gains through May. Sturm Ruger's CEO attributed a 37% leap in distributor sales to "the impact of state-level restrictions and heightened concern for personal protection" related to the coronavirus pandemic.
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Gun stocks skyrocketed on Monday following a weekend of police-brutality protests and looting throughout the US.
Gunmaker Smith & Wesson soared as much as 28% through the session, while Axon Enterprises, which makes the Taser stun-gun, leaped 21%. Sturm Ruger gained as much as 12.5%. All three firms cut some of their morning gains later in the day.See the rest of the story at Business Insider
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