Firearm stocks rise after attempted assassination of Trump

SALT LAKE CITY — Days after the attempted assassination of former President Donald Trump, many firearm companies’ stocks are on the rise. 

Smith and Wesson firearm brands saw an 11% jump in stock prices Monday. 

Sturm, Ruger & Company rose 5%.

DMBA certified financial planner Gericka Espinosa said this often happens after major events that some see as a catalyst for gun control, like the assassination attempt against Trump.  

“Its just human nature … Anything perceived as scarce … all of a sudden becomes valuable and people flock to them. [They] buy them for the fear of them being taken away,” she said.

It’s not just firearm companies. On Tuesday the Dow Jones saw its biggest day in a year, closing with a gain of 743 points, according to the Wall Street Journal. That surpassed a record set the day before on Monday.

Espinosa said that economists typically see a positive market during election years.

“There is a lot of fluctuation surrounding … election and announcements. But … overall… [the economy] ends up pretty good. ”

Along with these records, inflation seems to be cooling, Espinosa said. 

But why is everything still so expensive?

“There was high inflation, so the damage has been done as far as the price increase. For prices to go back, there would have to be deflation, which isn’t necessarily good for the economy.” 

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