When mass shootings happen in America, gun shares often rise. So it’s not a surprise to see gun manufactures notice a boom in their stock prices right after Sunday’s horrific mass shooting incident in Las Vegas, Nevada. Is it fear that is driving up this dependence on guns?
According to HuffPost, gun retail companies, such as American Outdoor Brands Corp.; Vista Oudoors; and Sturm, Ruger & Co., saw their stock respective prices climb by 2.3 percent, 1.4 percent, and 3.7 percent on Monday, just after Stephen Paddock gunned down a crowd of concertgoers in Las Vegas, killing nearly 60 people and injuring over 500 others.
Before the shooting, gun stocks had been declining since President Donald Trump was elected. Now that this horrific attack claimed so many victims, gun companies are seeing consumers hitting the shops.
But this phenomenon isn’t new. In the past, American Outdoor even told investors that at times of heightened fears regarding crime and terrorism, demand for guns grows across the country. If anything, this proves that gun companies know that in times of crisis and panic, they are more likely to profit.
After the shootings in Newtown, Connecticut; Orlando, Florida; and San Bernardino, California, gunmakers also got a boost in sales, adding millions to their profits. Clearly, when incidents involving out-of-control shooters take place, Americans across the country appear to feel vulnerable and fear lawmakers may take their gun rights away.
What also appears to come to their minds is that the best way to act in response to devastating violence is to become less vulnerable. Instead of using skills that may help them fight off attackers, many look at guns for a quick fix. According to a study, people who live close to where these events occur are even more likely to run to gun shops after mass shootings.
Fear drives people to guns in the hope that these weapons will provide them with the security they seem to be lacking. Yet, ironically enough, guns remain the reason society has become so unsafe.
Banner and thumbnail image credit: Reuters/Brian Blanco