Gun stocks surge as Biden victory sealed

Big 5 Sporting Goods

15/12/2020 19:32

** Shares of gun makers surge Tues on heels of Electoral
College confirmation and Senate Republican leader Mitch
McConnell's acknowledgment of Joe Biden's presidential victory
 urn:newsml:reuters.com:*:nL1N2IV1I6
    ** Analysts view Democratic president favoring gun control
as bullish for firearm stocks, as gun owners accelerate
purchases anticipating potentially more restrictive regulations
    ** Though if Republicans maintain Senate control after the
Georgia runoff elections, a split Congress could hamper stricter
gun legislation
    ** Smith & Wesson   SWBI.O  shares rise 11.0% and Sturm
Ruger & Co Inc  RGR.N  gains 4.7% on Tues
    ** Vista Outdoor  VSTO.N , which sells ammunition and
outdoor products, also up 5.5%
    ** Gun stocks have also benefited this year amid COVID-19
fears and civil unrest
    ** Including moves on Tues, SWBI has rallied 141.5%, RGR has
climbed 49.5% and VSTO has jumped 178.7% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com))