I did not see any companies reporting about this, so I wanted to make a thread. Today Smith & Wesson ($SWBI) stock was up 6.7% and if you look at the daily chart you can see it started to rapidly spike in price and volume when the news broke of Kirk's assassination. This is the same for $POWW and $RGR, which are also firearms-related stocks.
What do you guys think of this move and buying more stock in firearms industry? I have old shares of $SWBI stock with a cost basis of 8.90. I am thinking of buying more because the market seems to be signaling a shift towards what I expect a surge in firearms purchases after the assassination. $SWBI spiked espescially during June 2020, so I am wondering if I should expect a similar situation.
Firearms stocks up big on news of Charlie Kirk's assassination
byu/KILLDAECIAN instocks
Posted by KILLDAECIAN
7 Comments
Who? Thoughts and prayers I guess. That means more guns on schools and campuses if the stocks are reacting like this.
You could say Charlie Kirk LEAD by example
Well, with this happening, you might wanna stock up on the actual guns and ammo instead of the stock….
Killing a high profile guy like him is never good, regardless of what side of aisle youre on.
Never let a good tragedy go to waist I say!
I dunno if it would be the same level surge as 2020. People in 2020 were more unhinged during the pandemic.
It means people expect new gun control proposals and panic buying in response
Happens every time. I find it amusing this time though. Do people really think this will make the GOP support gun control? They’re just going to use the opportunity to vilify liberals.