NationalNews

Stocks in US gun makers rise following horror Texas school shooting

The stock prices of a number of prominent US firearm manufacturers have risen in the days following the mass school shooting in Texas that has since claimed the lives of 19 children and two teachers.

Smith & Wesson Brands has risen almost 10 per cent in the past five days, mirroring the success of other manufacturers such as Ammo Inc (up 12.6 per cent), Sturm Ruger (up 5.64 per cent) and ammunition maker Olin (up 23.5 per cent over the past month).

While restrictions – some as even-handed as background checks – have yet to be announced, investors are attempting to catch firearm stocks at a price they believe is cheap.

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A study from 2019 found that a "statistically significant" spike in gun sales occurred in the months immediately following every single mass shooting event.

A rise in stock prices is investors anticipating a boom in gun sales prior to any restrictions being introduced.

How American politicians will tackle the fallout from one of the worst school shootings in more than  a decade remains to be seen.

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A bipartisan group of 10 senators led by Democrat Chris Murphy is discussing what they can do to curtail mass gun violence, with current suggestions including expanded background checks or "red flag laws" that would prevent some customers from legally purchasing firearms.

It is uncertain if the group can come to consensus, and even if they do, winning enough votes from Republicans could prove difficult, as most do not want to see changes in the nation's gun laws. 

Democrats would need 10 Republican votes to overcome a filibuster and get a bill through the 50-50 Senate.

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"Odds are against us, but we owe it to parents and kids to try," tweeted Murphy, who has been an advocate for stricter gun control since 20 children and six educators were killed at Sandy Hook Elementary School in 2012.

Murphy, who gave an impassioned speech on the Senate floor Tuesday as the news broke of the Texas shooting, has said he wants to start with proposals that are doable.

"There is a common denominator we can find," Murphy said.

"There is a place where we can achieve agreement."

Additional reporting by the Associated Press

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