Why Ammo Stock Went "Poww!" Today

Shares of ammunition manufacturer Ammo, Inc. (NASDAQ: POWW) -- the company that sounds like a Looney Tunes villain -- lived up to their ticker name today. In 3 p.m. EDT trading, Ammo stock exploded higher by a lucky 7.7%.

Credit for the stock price rise comes from two sources: investment bank Lake Street Capital, which raised its price target on Ammo stock to $12 today; and Ammo, Inc., itself -- which inspired the upgrade with a bang-up earnings report on Monday.

Image source: Getty Images.

Continue reading

Source Fool.com