Shares of gun manufacturers surged Thursday after the US Supreme Court established the right to carry firearms in New York, signaling a favorable outcome for the industry in the aftermath of recent mass shootings with calls for more restrictive gun control laws.
Smith & Wesson Brands Inc. led the rally, jumping 9.6%, the most since June 2021, after the decision was made to strike down a New York law that required people to show a special need to carry a handgun in public. Sturm Ruger & Co. and Ammo Inc. advanced 4.3% each, while Vista Outdoor Inc. gained 2.9%.
