Why Smith & Wesson Brands Is Rebounding This Week
Shares of Smith & Wesson Brands (NASDAQ: SWBI) are up by 12.4% compared to where they closed last Friday, according to data from S&P Global Market Intelligence, recovering somewhat from the sell-off that followed the release of its lackluster fiscal second-quarter earnings report.
The gunmaker's stock plunged by 30% after it missed Wall Street's top- and bottom-line estimates by a wide margin, but the market may have concluded that the sell-off was overdone considering the latent demand for firearms that remains. Management also stood by its full-year guidance for gross margin and earnings before interest, taxes, depreciation, and amortization (EBITDA).
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Source Fool.com
