Gun stocks soared when a pro-Trump mob attacked U.S. Capitol Hill

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Sections of Marcas Smith & Wesson, Sturm, Ruger & Co. (RGR). and Vista Outdoors Inc. (VSTO) they began to rise Wednesday when Democrats won both seats in the Georgia Senate runoff. The stock of guns continued to rise as a mob attacked Capitol Hill and Washington was locked down.

Gunmakers Smith & Wesson jumped 18%, and Ruger finished the day up 12% at the market near Wednesday. Vista Outdoor, which makes weapons and other products, rose more than 15%.

Vista’s rise continued Thursday and rose about 2% at noon amid a broader market rally. Shares of Smith & Wesson and Ruger fell sharply Thursday, although both arms manufacturers are up more than 15% so far this year. The companies did not respond to requests for comment.

Criticism for the gun industry was violent on Wednesday.

“What is happening today on Capitol Hill is a disaster,” National Hunting Sports Federation public affairs director Mark Oliva told CNN Business Wednesday night. “The industry has nothing to do with it, and it has no part in that.”

Demonstrators walk through the U.S. Capitol after breaking barricades to the building to protest outside in Washington, DC, U.S., Wednesday, Jan. 6, 2021.

Oliva, a former U.S. Marine veteran who used to work on Capitol Hill, said the protesters who brought guns into the Capitol building violated federal law.

“Earlier in the week the mayor of DC had told people, if they are going to come to DC, not to take a gun with them,” Oliva continued. “If you storm the walls of Capitol Hill and you enter the Capitol, you are committing a federal offense.”

Last year was the strongest on record for gun sales in America. Around 21 million guns were sold in 2020, Oliva said, aa nearly 60% increase from the number sold in 2019.

The increase in gun sales in 2020 was spurred 40% year over year an increase in gun buyers for the first time, Oliva said, especially with women and Black Americans. These sales, he says, came largely from parts of the country where civil unrest erupted at protests over racial inequality and police brutality.

“8.4 million people bought a gun in 2020 for the first time,” Oliva said. “Our customer base is definitely growing far beyond expectations.”

Gun sales usually come up before the national elections, especially when Democrats who are running for gun legislation prefer to win. The previous record of 15.7 million guns sold in calendar year was set in 2016, when many gunmen feared that Secretary of State Hillary Clinton was winning the White House. Oliva said the gun industry does not expect sales to slow down anytime soon with President Joe Biden ready to step down on January 20th.

“People are still worried about being able to buy the guns they want with the incoming leadership of Biden-Harris and their previous statements on gun control,” he said. .

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