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Why AMMO's Stock Is Trading Higher Today

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Why AMMO's Stock Is Trading Higher Today

AMMO (NASDAQ: POWW) shares are trading higher Thursday after the company announced it entered into a letter of intent to acquire GunBroker.com for roughly $240 million.

AMMO Inc engages in the design, manufacture, and market ammunition products in the sporting industry in the United States. The company offers its products to a sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers and law enforcement and military agencies. It generates revenue from the production and sale of ammunition.

AMMO was trading up 19.68% at $9.28. The stock has a 52-week high of $9.90 and a 52-week low of $1.

 

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