Tuesday's terror attack in New York City has triggered shares of gunmakers.
In the aftermath of Tuesday's attack in lower Manhattan which left eight people dead and 11 people injured after a truck barreled down a popular bike path, gun stocks have been moving higher on Wednesday.
Shares of gunmakers Sturm Ruger & Company (RGR) - Get Report were climbing nearly 4% in mid-morning trading on Wednesday while shares of its counterpart American Outdoor Brands (AOBC) - Get Report , the parent of Smith & Wesson, were spiking over 2.5%.
While the driver, 29-year-old Sayfullo Saipov, was not wielding actual firearms, he was displaying imitation guns before being shot and wounded by police.
Consequently, gun stocks were moving higher during trading on Wednesday as investors bank on sales boosts provided by those fearing harsher regulations governing firearms, and those wishing to purchase guns as a means of self-defense.
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