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Market Overview

Gun, Security Stocks Surge As Protestors Storm US Capitol

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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 (NASDAQ: 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 (NASDAQ: SWBI) were up 19%, Sturm, Ruger & Company (NYSE: RGR) shares were up 12% and Vista Outdoor (NYSE: VSTO) shares were up 15%.

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

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

Price Action: The SPDR S&P 500 Trust ETF (NYSE: 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.

 

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