Gun Stocks Shoot Higher After Weekend Of Chaos
Tyler Durden
Mon, 06/01/2020 – 12:30
Stocks of gunmakers and law-enforcement related equipment jumped on Monday after this weekend’s violent nationwide protests following the death of George Floyd, a black Minneapolis man who died after a white police officer pinned him on the ground by his neck for over eight minutes.
Sturm Ruger and Smith & Wesson were both up over 10% in early trading, with the latter spiking nearly 30% at first print vs. Friday’s close.
The spike comes as armed residents of upscale Bellevue, WA were seen defending their neighborhood.
BELLEVUE AND SEATTLE PROTEST. These people have multiple guns. They are shouting “GO HOME AND BE SAFE! “ What do you think? #BLM #BLMPROTEST pic.twitter.com/8xX5zp4QQL
— takeiteasyj (@takeverything20) June 1, 2020
https://platform.twitter.com/widgets.js
Related industries shot higher as well on Monday, including law-enforcement providers ShotSpotter, Vista Outdoor, Sportsman’s Warehouse Holdings, body-cam maker Digital Ally, Inc., and nonlethal restraint company Wrap Technologies, Inc.
And with word that Antifa is planning to invade the suburbs next (the last tweet before one of their primary accounts was suspended), ADT home security stock is spiking as well – up more than 12% as of this writing.
Meanwhile, here’s a chart of the latest FBI background check information, which will be updated later today. Anyone care to guess what the next leg will look like?
Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com