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Gunmakers shoot higher on Trump plan to ease export rules: Reuters
September 19, 2017 / 9:08 PM / a month ago

Gunmakers shoot higher on Trump plan to ease export rules: Reuters

FILE PHOTO: Rifles are seen at the Sturm, Ruger & Co., Inc. gun factory in Newport, New Hampshire January 6, 2012. REUTERS/Eric Thayer/File Photo

** Gunmaker stocks rise sharply on strong volume after Reuters report that Trump administration is preparing to make it easier to sell small arms, including assault rifles and ammunition, to foreign buyers, according to senior U.S. officials

** American Outdoor Brands (AOBC.O) jumps as much as 18.5 pct after news hits the wire around 3:27 pm ET; stock pares gains to close up 10.1 pct at $15.70 on 6.1 mln shares of volume, 3.6x the 30-day avg

** Sturm, Ruger & Co (RGR) also leaps as much as 18.5 pct before finishing up 13.7 pct at $54.35; about 1.6 mln shares change hands, 5x the 30-day avg, for their busiest day since Nov 10

** Vista Outdoor Inc (VSTO.K) rises >6 pct, halves advance, closes up 3.1 pct at $23.00. Trades 2 mln shares, double the 30-day avg

** The administration has all but finalized a draft of the new rules, which could be sent to the White House budget office for review within days, one U.S. official said

** Gunmaker shares have fallen since Trump’s surprise win in the U.S. Nov presidential election; his victory abruptly undercut demand as people became less worried the government would curtail their ability to purchase firearms

** The group has been under additional pressure in wake of AOBC’s poor results on Sept 7

** Including today’s moves, AOBC down 45 pct, RGR off 16 pct and VSTO down 41 pct since Nov 8 election

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