Sturm, Ruger & Company RGR shares are trading higher by $5.50 at $62.91 and Smith & Wesson Holding Corp SWHC shares are trading higher by $1.49 at $22.89 in Monday's session.
Some investors are thinking that tougher gun laws in light of Saturday's shooting in Orlando may increase demands for tighter fun controls. As a result, those wanting to own a gun may be more inclined to purchase before the gun laws are changed or altered.
Both issues had been in the midst of a steep decline, but now have found a catalyst on which to rally.
Sturm Ruger has traded at its highest level since it peaked on June 6 at $63.82, when it rallied to $63.57. Smith & Wesson rallied beyond its June 6 high ($22.97), but came up shy of its June 3 high ($24.79) as the current high stands at $23.89.
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