NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Joe Biden
    United States of America
    COVID-19
    Russia-Ukraine crisis
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / World News / Gun manufacturers' shares perform well after Las Vegas shooting
    World

    Gun manufacturers' shares perform well after Las Vegas shooting

    Gun manufacturers' shares perform well after Las Vegas shooting
    Written by Anupama Vijayakumar
    Edited by Shikha Chaudhry
    Oct 04, 2017, 02:05 am 2 min read
    Gun manufacturers' shares perform well after Las Vegas shooting

    The recent Las Vegas shooting incident has left many Americans feeling shocked and insecure. However, their insecurity over gun violence seems to be working out well for gun manufacturers as their share prices are steadily rising after the incident. This is because investors anticipate an increase in gun purchases as gun control laws are expected to be tightened soon. Here's more about it.

    Las Vegas: Mass shooting at music festival near Mandalay Bay

    Stephen Paddock, a 64-year old accountant opened fire at a country music festival in Las Vegas being held at the Mandalay Bay Resort and Casino. The death toll currently stands at 59; at least 500 have reportedly been injured. Paddock later shot himself as the police raided his room at the Mandalay Bay hotel packed with firearms.

    How has the Las Vegas shooting impacted share prices?

    Shares of gun manufacturers, Sturm Ruger & Co and American Outdoor brands Corp rose 3% each. Ammunition manufacturer Visa Outdoors Inc. recorded a 2% rise in share price. Meanwhile, share prices of MGM Resorts International, which owns the Mandalay Bay Hotel dropped about 3%.

    Why are the prices rising?

    Gun sales have usually surged after mass incidents in the past such as 9/11, as people fear these incidents may lead to stricter gun control laws. As a result, gun manufacturers' shares usually perform well after shooting incidents that lead to large casualties. According to experts, this is because investors anticipate that people will rush to purchase guns before stricter laws are put in.

    What does this mean?

    The good performance of gun manufacturers shares is strange given the fact that US citizens' right to bear arms was one of Trump's key presidential campaign pitches. Moreover, the trend indicates that despite data indicating declining gun ownership, Americans view guns as a legitimate way to defend themselves. Without strict laws, gun manufacturers will continue to profit from a prevailing sense of insecurity.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    ISIS
    Las Vegas
    United States of America

    ISIS

    MP: NIA busts ISIS-linked terror module, arrests 3 in Jabalpur Jabalpur
    'The Kerala Story' review: Poor filmmaking bogs down important tale Movie Review
    'The Kerala Story': Congress requests Kerala government against its release Bollywood
    'The Kerala Story' trailer: Story of how Shalini became Fatima Bollywood

    Las Vegas

    Kumail Nanjiani-Elizabeth Banks headline 'Migration'; other voice-cast members announced Hollywood
    India's Sargam Koushal crowned Mrs. World 2022: Everything to know Mumbai
    Kourtney Kardashian-Travis Barker get 'married' in Las Vegas, post pictures Elvis Presley
    'Shark Tank' Season 12 shooting starts, amid strict COVID-19 measures United States of America

    United States of America

    US Defense Secretary Lloyd Austin to visit India next week Lloyd Austin
    COVID-19 still claims one life every four minutes COVID-19
    Meet Davis Perrigo, accountant by profession but Swiftie by passion Taylor Swift
    Mexico: 10 killed, 9 injured in shootout at racing event Mexico

    Love World News?

    Subscribe to stay updated.

    World Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023