Arms companies shoot up on Wall Street

May 30, 2022

‎Republican Senators Refuse to Open Debate on Guns and Arms Companies Shot Down on Wall Street After Texas Massacre‎

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‎A, Gelfenstein, The Texas massacre provoked an unexpected response on ‎‎Wall Street‎‎. An 18-year-old boy killed 19 children and two teachers only to be killed by police a short time later in ‎‎San Antonio, Texas.‎‎ This fact shook American society, causing an intensification of the debate on the use of weapons in the country and the legislation in it. ‎


‎ Democrats' first attempt to respond to back-to-back massacres in ‎‎Buffalo and Uvalde,‎‎ Texas, failed in the Senate on Thursday, when Republicans blocked a domestic terrorism bill that would open debate on tough crime-related issues. hatred and gun safety.‎


The final vote was 47 to 47, less than the 60 votes ‎‎needed to move the bill forward. All Republicans voted against it.‎


‎ The rejection of the bill, just two days after 19 children and two teachers were killed at a Texas elementary school, underscored Congress' continued failure to pass measures to end the epidemic of violence. army. in the country. ‎‎He also highlighted the frequency of mass shootings in the United States‎‎ as Congress struggled to respond to previous shootings as a new massacre unfolded.‎


‎They focused on three themes: background checks for gun purchases online or at concerts, red flag laws to keep guns away from people who could hurt themselves or others, and programs to improve safety in schools and elsewhere. ‎


‎ However, the big small‎‎ arms manufacturing companies ‎‎not only did not collapse, but also staged frantic increases today. ‎


‎ Smith & Wesson, ‎‎a leader in the production of this type of weapons, rose 8.18% on the stock market, pushing its price to 682 million dollars. For its part, Sturm, Ruger, one of the main companies in the country, increased its value by 4.48% to $1,148 million. Ammunition increased by 6.33%, while Visa OutDoor increased by 10.7%. ‎


‎On the other hand, in Europe there are a total of 27 arms companies among the 100 largest in the world, according to the Stockholm International Peace Research Institute‎‎ (SIPRI).‎‎ The only Spanish company is the public company Navantia, ranked 84th and not listed on the stock exchange. ‎


‎ Among these arms companies, some like Rheinmetall experienced a sharp rise in the stock market following the German government's announcement. Notably, on February 28, the day after Germany announced an increase in defense investment, that company soared 29% in ‎‎Germany's DAX index, reaching all-time highs. ‎


‎ Other large arms companies, such as Italy's Leonardo and France's Thales, also increased the value of their stock market shares after Russia's invasion of Ukraine. ‎


‎ Professor Paddy Ssentongo explains ‎‎that the reasons for this increase are varied, but they believe that the isolation due to covid and the riots derived from ‎‎Black Lives Matter or events such as the assault on Congress‎‎ would have caused a sense of insecurity. Proof of this would be that the state where purchases and related crimes have increased the most is Minnesota, where these crimes have increased by 120% in just one year. ‎‎The result is that 2021 was the second‎‎ best-selling year in the country's history, with more than 20 million copies sold, only behind 2020, according to data released by the FBI.‎


Location: Estados Unidos

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