Shares of large gunmakers are heading higher in pre-market trading Friday, the morning after 11 police officers and one civilian were shot in Dallas.
Smith and Wesson was up around 5% pre-market, while Sturm, Ruger, and Company was higher by 3.3%.
Five officers were killed, and three are in critical condition after two snipers opened fire during a protest in downtown Dallas Thursday night. After a shootout with police, three suspects are in custody and one gunman was killed.
President Barack Obama said the attack was a “vicious, calculated and despicable attack on law enforcement” Friday morning before a meeting with NATO leaders in Poland.
“We also know when people are armed with powerful weapons unfortunately it makes attacks like these more deadly and more tragic. In the days ahead we are going to have to consider those realities as well,” continued Obama.
Gun stocks, as we’ve noted, have typically rallied following mass shootings as the possibility of gun control measures has caused demand to increase. Smith and Wesson reported a 22% increase in firearm sales in its most recent quarter over the year before.
Here’s Smith and Wesson:
And Strum Ruger: