Gun Sales Are Down, So Why Did Gun Stocks Just Go Up? [Bloomberg Business News]
AMERICAN OUTDOOR BRANDS CORP (AOBC)
Last american outdoor brands corp earnings: 3/5 04:15 pm
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Source: Bloomberg Business News
It used to be that after every mass shooting, stocks of gunmakers would rise because Wall Street expected enthusiasts to flock to stores. That era may be over. By Molly Smith and Polly Mosendz Shares of firearms companies rose on Thursday morning after a gun-fueled massacre at a Florida high school left 17 dead and 14 injured. At first, gun stocks reacted in their usual macabre fashion, climbing on expectations of a fear-driven surge in firearms purchases. But after jumping 4.3 percent in early trading, American Outdoor Brands Corp., formerly known as Smith & Wesson, was up only 1.6 percent by the afternoon. Sturm Ruger & Co Inc. erased early gains. Even more surprising was the rally in the debt of Remington Outdoor Co., the company that earlier this week said it plans to file for bankruptcy. The bonds jumped 7 cents on the dollar Wednesday, their largest-ever intraday gain, and continued to rise Thursday. There hasn’t b
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