Gun stocks rise in wake of Charlie Kirk shooting

Gun stocks were pulled higher late Wednesday afternoon in the wake of the shooting of conservative activist Charlie Kirk at an event in Utah.

Shares of Smith & Wesson Brands (NASDAQ:SWBI), Sturm, Ruger & Company (NYSE:RGR), American Outdoor Brands (NASDAQ:AOUT), and Outdoor Holding Company (NASDAQ:POWW) spiked to session highs on the news.

Kirk, the co-founder and CEO of Turning Point USA, was speaking at a Utah college event when an assailant fired a shot, striking Kirk in the neck. Kirk immediately went limp and was rushed to a hospital, where he died, according to his spokesman.

An initial suspect was apprehended at the site and later released.

Firearms-related stocks surged as investors anticipated that the shooting would fuel demand for stricter gun control laws, historically a catalyst for increased demand.

Accordingly, shares of Smith & Wesson (NASDAQ:SWBI) closed 6.7% higher, American Outdoor Brands (NASDAQ:AOUT) closed 5.3% higher, Sturm, Ruger (NYSE:RGR) was up 3%, and Outdoor Holding Company (NASDAQ:POWW) closed Wednesday’s regular session with a 4.9% gain.

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