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SWHC, RGR, TASR, And DGLY All Rise Friday After Dallas Shootings
Shares of firearms makers Smith & Wesson and Sturm Ruger (RGR - Free Report) , stun gun and officer-worn camera maker Taser , and camera maker Digital Ally (DGLY - Free Report) 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.
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