Dallas Police Shootings Have Investors Buying Gun, Body Camera Stocks
Gun manufacturers saw their stocks trading higher early Friday morning after a deadly shooting in downtown Dallas.
Three people were in custody while a fourth suspect exchanged gunfire with police authorities. A sniper shot 11 officers, five fatally.
Downtown Dallas was in lock-down early Friday and at least one of the shooters has been killed in a gunfight with police.
"We still don't know all the facts but we do know that there has been a vicious, calculated and despicable attack on law enforcement," U.S. President Barack Obama said from the NATO summit in Warsaw Poland.
Gun Stocks Tick Higher
Shares of Smith & Wesson Holding Corp (NASDAQ: SWHC) neared all-time highs and were trading higher by nearly 3 percent at $29.62early Friday morning, while shares of Sturm, Ruger & Company (NYSE: RGR) were trading higher by more than 3 percent.
Shares of Digital Ally, Inc. (NASDAQ: DGLY), a maker of digital video imaging and storage products for use by law enforcement, saw its stock soar higher by nearly 20 percent.
News of the fatal shooting also brought TASER International, Inc. (NASDAQ: TASR)'s name back in the spotlight. The developer and seller of electric weapons designer for use by law enforcement was up about 1.6 percent at $26.18.
Editor Note, Friday 8 July 2016 1531 EST: A previous version of this story reported that 11 individuals were fatally shot; 11 individuals were shot, but only five had passed away at time of writing.
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