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Another Major Reversal: Gun maker stocks jump after Supreme Court strikes down New York gun-control law “They Can’t Get Away With Anything Anymore”

Posted by Mr.Copper @ 14:12 on June 23, 2022  

Shares of gun makers got a boost in morning trading Thursday, after the Supreme Court of the United States (SCOTUS) struck down a New York State gun-control provision. Sturm Ruger & Co.’s stock RGR, +3.81% jumped 1.9%, after being up about 1.4% just prior to the SCOTUS ruling, while Smith & Wesson Brands Inc. shares climbed 5.2%, after being up 3.2% just before the ruling. SCOTUS said the New York law that forbids people from obtaining a permit to carry a handgun publicly unless they can demonstrate a special need violated the U.S. Constitution’s Second and Fourteenth Amendments, which gives “ordinary, law-abiding citizens” the right to publicly carry handguns. Sturm Ruger’s stock has declined 12.3% over the past three months and Smith & Wesson shares have shed 13.1%, while the S&P 500 SPX, 0.11% has dropped 14.9%.

https://www.marketwatch.com/story/gun-maker-stocks-jump-after-supreme-court-strikes-down-new-york-gun-control-law-2022-06-23?siteid=yhoof2

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.