Shares of firearms makers Smith & Wesson SWHC and Sturm Ruger RGR, stun gun and officer-worn camera maker Taser TASR, and camera maker Digital Ally DGLY all rose sharply Friday morning after five Dallas Police Officers were shot and killed Thursday night.
The nation’s largest gun-maker by revenue, Smith & Wesson saw its shares open nearly 5% higher Friday morning, at $29.75 per share. Rival gun maker Sturn Ruger saw its shares jump, starting the day nearly 4% higher.
Maker of stun guns, body worn cameras, and digital evidence storage systems, Taser, saw its shares also rise, trading nearly 6% higher early Friday. Digital Ally, a maker of wearable cameras, was trading more than 57% higher, after jumping around 25% in premarket trade.
This isn’t the first time these types of stocks have risen after a tragedy, as after last month’s Orlando shooting gun makers saw their shares jump too. Smith & Wesson rose nearly 7%, and Sturm Ruger gained 8.5%.
The Dallas shootings came during what was a peaceful protest against the killing of two African American males in Louisiana and Minnesota. Firearms sales tend to rise after tragedies such as mass shootings and terrorist attacks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
STURM RUGER&CO (RGR): Free Stock Analysis Report
SMITH & WESSON (SWHC): Free Stock Analysis Report
DIGITAL ALLY IN (DGLY): Free Stock Analysis Report
TASER INTL INC (TASR): Free Stock Analysis Report
To read this article on Zacks.com click here.