After the deadly mass shooting that took place on Sunday in Las Vegas that has killed more than 50 people and injured more than 500, gun stocks are on the rise.
In the wake of what is now considered the largest mass shooting in U.S. history, there was a noticeable climb in the stock prices for major gun makers, according to the financial site, MarketWatch on Monday.
American Outdoor Brands Corporation (parent company of Smith & Wesson), Sturm, Ruger & Co., Vista Outdoors rose by 2.3 percent, 3.7 percent and 1.4 percent respectively.
According to analysts gun stocks tend to rise after mass shootings in the country. In American Outdoor Brands’ annual report, the firearms manufacturer told investors several times that “speculation surrounding increased gun control at the federal, state, and local level and heightened fears of terrorism and crime" will affect the demand for guns.
Last year, after the deadly mass shooting in Orlando, Florida stock shares of Smith & Wesson, Sturm, Ruger rose close to 10 percent the Monday following the tragic incident, according to CNN Money. The mass shooting killed 49 people and wounded about 58. It was reported that firearm manufacturers made $632 million in profits after the deadly mass shooting that happened at the Sandy Hook Elementary School in Newtown, Connecticut that killed 20 children and six adults in 2012.
Despite the spikes in gun sales after the most recent mass shooting incident, overall guns sales have gone down since Trump became president of the United States, according to Business Insider. Gun lovers became less concerned about control regulations because they believe Trump would not force tough regulations.
During the Obama administration, people rushed to purchase firearms because they feared gun control laws. If Hillary Clinton was elected as president, it would have been likely that she would have followed similar gun control laws Obama did when he was president.