Leading US gun manufacturer, Smith & Wesson, has reported a surge in stock value following news that president Obama plans to implement gun control measures that don’t require congressional approval.
Circumventing the political deadlock in Congress, president Obama met with attorney General, Loretta Lynch, to announce a new executive order that will limit the availability of firearms by introducing background checks on buyers and force more sellers to have a license.
The move has proven hugely beneficial for Smith & Wesson whose stock prices jumped almost seven per cent in the hours following the news of the regulation changes.
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Source: The Drum
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