Smith & Wesson Sells Off Following Reports of Connecticut School Shooting

Shares of gunmaker Smith & Wesson

had been trading up over three percent on Friday, but gains were completely lost following reports of a shooting at an elementary school in Connecticut. Strum, Ruger

also moved lower, although the stock had been trading lower throughout the session prior to the report. Investors may be concerned that the Connecticut shooting could prompt policymakers to push for stronger gun control, dampening the demand for both company's products. Shares of Smith & Wesson traded at $9.48, down 0.63 percent, while Strum, Ruger traded at $46.87, down 1.80 percent.