The market value for two major gun manufacturers skyrocketed following the terror attack that claimed the lives of 49 victims in Orlando on Sunday.
According to Business Insider, Smith & Wesson shares jumped by as much as 11 percent when the market opened Monday morning. At the time of this article’s publication, the price had stabilized at $22.86 per share.
Similarly, Sturm, Ruger & Company saw an 8 percent gain and was trading at $62.68 at the time of publication.
(Business Insider)
Both companies saw similar trends following the San Bernardino terror attacks in late 2015.
On Sunday, terrorist Omar Mateen killed 49 and injured countless others after opening fire at the Pulse Nightclub shortly after 2 a.m. EST.
Smith and Wesson handguns are displayed during the 2015 NRA Annual Meeting (Getty Images)
Both Hillary Clinton and President Barack Obama drew attention to the “need to keep guns like the ones used last night out of the hands of terrorists or other violent criminals. (RELATED: White House Doesn’t Acknowledge Orlando Attack As Radical Islamic Terrorism)
Presumptive Republican nominee Donald Trump criticized both Clinton and Obama for spinning the incident as a gun control issue instead of actively confronting radical Islamic terrorism. (RELATED: Trump Respond to Orlando Terror Attacks)