After Las Vegas Massacre, Gun Stocks Are Up, Casino Stocks Are Down
Source: NBC News
Shares in gun manufacturers rallied Monday after the nation witnessed its most deadly mass shooting in modern history.
Law enforcement officials in Las Vegas said Stephen Craig Paddock, 64, of Mesquite, Nevada, opened fire from his room at the Mandalay Bay hotel on a crowd of about 22,000 concertgoers, killing at least 58 people and wounding over 500.
Following the tragedy, shares in American Outdoor Brands (formerly known as Smith & Wesson) went up by 7 percent; Sturm Ruger, known for its semi-automatic and single-shot rifles, topped out at almost 6 percent.
Its an all-too-familiar pattern after an all-too-familiar situation: Following a mass shooting, traders buy up shares in gun companies in anticipation of fearful citizens stocking up on firearms for their own self-defense.
Read more: https://www.nbcnews.com/storyline/las-vegas-shooting/after-las-vegas-massacre-gun-stocks-are-casino-stocks-are-n806721
Only in America. What's going on in this country is becoming more and more shameful.
On top of this, later this week republicans hope to vote on a bill relaxing controls on silencers. Imagine if this guy had silencers for his guns? He could have killed thousands before anyone realized what was going on.
exboyfil
(17,865 posts)She should move to another country before this happened. I am thinking maybe so.
George II
(67,782 posts)So far in Chicago there have been more than 480 murders this year.
When I was in Toronto in June there was a murder that shocked the city (a city of roughly the same population as Chicago - 2.8M vs. 2.7M) It was their EIGHTEENTH murder of the year and they were concerned!!!!
Iliyah
(25,111 posts)walk and store them in your home, and hotel rooms, cars, etc. creates fear for others. Therefore, for many, the most logical thing to do is have guns of your own. It's a matter of time but we are headed for in streets shoot outs and the police won't be able to contain it.
Mr.Bill
(24,324 posts)purposes of self defense. They do it because they speculate the gun the want now will become illegal to buy tomorrow.
Javaman
(62,534 posts)they have fear to do that job of selling all the old stock.
with each and every incident that occurs, more and more people have guns.
their mission is accomplished.
however, their idea of a well armed nation is a peaceful nation has quietly been put to bed as completely stupid.