Gun stocks decouple from gun massacres
Gun stocks often rise on the heels of well-publicized gun violence, but it isn't happening after yesterday's horrific events in Sutherland Springs, Texas. Shares of such companies as Sturm Ruger, American Outdoor Brands and Vista Outdoor all are down in Monday's mid-day trading.
Why it matters: Conventional wisdom was that such massacres would prompt gun aficionados to buy lots of new weapons and accessories, fearful of new federal firearms regulations. But Congress' failure to enact new rules after hundreds of mass shootings over the past several years – including Las Vegas, Sandy Hook, the Pulse Nightclub and San Bernadino – may have convinced traders that the old cause/effect is no longer operative.