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Business

U.S. gun shares shoot higher on earnings

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Opening sequence

Business

U.S. gun shares shoot higher on earnings

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COMING UP:U.S. gun shares shoot higher on earnings

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Transcript

00:00:01
>> Shares of gun makers surging again this week on a very strong earnings report from Smith & Wesson. Adding to big gains following the mass shooting in Orlando. Reuters correspondent Noel Randewich covers the stock.>> Smith & Wesson sales to the year ending in April grew 30%, that's an astounding growth rate for any company at all.
00:00:21
And some of that 30% growth increase is surely is tied to concerns about increased gun control.>> Shares of Smith & Wesson have surged over 40% in the past year. Partly because of mass shootings including the one in San Bernardino, California that also increased calls for gun control.
00:00:39
>> An ironic effect of mass shootings and terrorism incidences, is that it leads to an increase in people's fear about crime. And people who are interested in buying guns, often will be spurred to buy more guns or buy them more immediately. Because they're actually afraid that all this talk of increased gun regulation could lead to crackdowns.
00:00:58
And make it effectively more difficult in the future to buy a gun.>> Gun sales following the Orlando attack are not reflected in Thursday's report. But Randewich says you can bet the outlook's good for the next one.>> Any other semi automatic pistols.