(credit: Peretz Partensky)
Shares of companies producing firearms, body cams, and stun guns jumped significantly Friday morning in the wake of the murders of five Dallas law enforcement officers. The officers were killed during a Thursday night protest of police-officer involved shootings of civilians.
Shares of gunmakers often spike in the aftermath of high-profile shootings for several reasons, including the public's desire to enhance personal security and to beat possible gun-control measures that are always discussed in a tragedy's wake. Stocks in that sector spiked after the Orlando, Florida shootings last month. On the body cam front, financials in that sector also rocket after major police events as the market suspects more police departments will deploy the technology.
Firearms manufacturer Smith & Wesson (SWHC) spiked more than three percent. The company was about $1 shy of its 52-week high of $30.44 on the Nasdaq midway through the trading day. Its 52-week low was $14.71. Sturm, Ruger & Co. (RGR) was surging more than 4 percent during the day. Ruger has been hovering well above $67 per share, which is still a distance from its $78.09 52-week high and $48.10 low on the New York Stock Exchange.
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