Gun, Security Stocks Surge As Protestors Storm US Capitol

The market is reacting to chaotic scenes out of Washington D.C. of protestors violently entering the U.S. Capitol.

What Happened: Dozens of President Trump supporters breached security perimeters and entered the U.S. Capitol. The protests come as Congress was expected to vote and affirm Joe Biden’s 2020 presidential victory.

Federal agents are being sent to help control the scene, according to the Associated Press.

Earlier, Trump shared pictures of the “Save America March” in D.C. where he spoke to the crowd. Some have called for Twitter TWTR to suspend Trump’s account at this time.

Gun, Security Stocks Moving: Gun stocks are surging Wednesday due to the unrest.

Shares of Smith & Wesson Brands SWBI were up 19%, Sturm, Ruger & Company RGR shares were up 12% and Vista Outdoor VSTO shares were up 15%.

Stocks related to law enforcement controlling protests also moved higher. Wrap Technologies WRAP shares closed up 4%, VirTra Inc VTSI shares closed up 20% and Digital Ally DGLY shares were up 30%.

Security-related small caps also surged with shares of Universal Security Markets UUU and Duos Technology Group DUOT up 27% and 15%, respectively.

Price Action: The SPDR S&P 500 Trust ETF SPY closed Wednesday at $373.64. Shares hit new 52-week highs of $376.98 earlier in the day before fading on the news from the Capitol.

Screenshot courtesy of NBC News.

Posted In: NewsPenny StocksPoliticsSmall CapMoversTrading IdeasGeneralDonald TrumpGun StocksJoe BidenS&P 500