Gun Stocks Surge Following shooting of Conservative Activist Charlie Kirk
NEW YORK – Shares in several major gun manufacturers experienced a meaningful jump in trading Thursday following the shooting of Turning Point USA founder Charlie Kirk during an event at the University of Utah Wednesday afternoon. The increase reflects a pattern observed after high-profile incidents involving gun violence, driven by investor anticipation of increased demand for firearms and related products.
The shooting, which occurred as Kirk was concluding a stop on his “American Comeback Tour,” has ignited a national conversation about political violence and gun control. While the suspect remains at large and a manhunt led by the FBI is underway, the immediate market reaction underscores the financial implications of such events. Experts suggest the surge in gun stock prices is fueled by a perceived increase in demand from individuals concerned about personal safety and potential restrictions on firearm ownership.
According to university officials, the shooter fired from a campus building approximately 200 yards away at 12:10 p.m. local time. Kirk was unharmed, but the incident prompted widespread condemnation from both sides of the political spectrum. The FBI has requested the public to submit any details, photos, or videos related to the incident.
The stock performance of Smith & Wesson Brands, Inc. (SWBI) saw a rise of 6.8% in midday trading, while Sturm, Ruger & Company, inc. (RGR) increased by 4.2%. Vista Outdoor Inc. (VSTO), parent company of Remington, also experienced gains, climbing 3.1%. These increases follow a trend established after previous mass shootings and politically charged events, where investors bet on a subsequent rise in gun sales.
Former president Donald Trump attributed the shooting to the ”radical left” and lauded Kirk as a “martyr for truth and freedom.” The incident has further polarized the national debate surrounding gun control and political discourse. The ongoing investigation and the potential for legislative action in response to the shooting will likely continue to influence market sentiment in the firearms industry in the coming weeks.