Smith and Wesson Holding Corp’s shares increased in price as two research firms upgraded the stock. Various analysts suggested a correlation between the surging share prices and the shooting.
But the company’s CEO claimed: “Basically, this guidance does not take into account any surge, any potential spike in consumer demand as a result of any of that. Basically, all we can do as a business is focused on the things we know, and delivering our – and execute our strategy. So with regard to what happened, any impact on demand is unknown and therefore is not included in our guidance.”
Cai Von Rumohr, an analyst at Cowen & Co. said on Friday: “Strong management with an intelligent strategy and healthy financials offer potential”. The firm’s shares increased by 9.7 percent, coming in at $23.87 on Friday morning in New York. Previously, Smith and Wesson’s shares had fallen by 1 percent this year. Competitor Sturm Ruger & Co also climbed, 4.7 percent to $62.23. The shares in Smith and Wesson had already surged on Monday following the attack by Omar Mateen on the Pulse nightclub in Orlando.