Why Shares of Smith & Wesson Shot Higher on Tuesday
Shares of Smith & Wesson Brands (NASDAQ: SWBI) climbed more than 10% on Tuesday, despite no company-specific news. The move instead appeared tied to national news, specifically the Electoral College effectively bringing to an end the U.S. presidential race.
It's sort of a tired political saw to say one party wants to take away the guns, but consumers still tend to believe it and investors react accordingly. Gun sales tend to spike higher during Democratic presidencies on fears would-be buyers could eventually see sales restricted.
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Source Fool.com
