Gun Stocks Climb After Las Vegas Shooting

As the number of people killed or injured in Sunday night’s shooting in Las Vegas continues to climb, so does the share price for gunmakers.

On Monday, just after the deadliest mass shooting in modern U.S. history, gunmakers saw a boom in their stock prices: American Outdoor Brands Corp. (previously Smith & Wesson), Sturm, Ruger & Co., and Vista Outdoor climbed by 2.3 percent, 3.7 percent and 1.4 percent, respectively, in morning trade, according to MarketWatch.

Gun shares often rise immediately after a mass shooting. In fact, American Outdoor Brands has repeatedly told investors that “speculation surrounding increased gun control at the federal, state, and local level and heightened fears of terrorism and crime” affects demand.

Gunmakers made millions after the mass shootings in Newtown, Connecticut; San Bernardino, California; and Orlando, Florida. The motive is fairly clear: When people get scared, they look for and buy things (e.g., guns) to protect themselves. One study in California found that handgun sales after a mass tragedy, at least in one case, spiked even more among people who lived close to the event.

(Photo: Ethan Miller via Getty Images)
(Photo: Ethan Miller via Getty Images)

Overall, since the election, gun sales have actually been on the decline. American Outdoor’s stock had fallen 46 percent since the election (as of Friday) while Sturm, Ruger & Co.’s stock fell 20 percent and Vista Outdoor’s stock dropped 40 percent.

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People hug and cry outside the Thomas & Mack Center after a mass shooting at the Route 91 Harvest country music festival on Oct. 2, 2017, in Las Vegas.
People hug and cry outside the Thomas & Mack Center after a mass shooting at the Route 91 Harvest country music festival on Oct. 2, 2017, in Las Vegas.
A cowboy hat lies in the street.
A cowboy hat lies in the street.
Las Vegas police search for the gunman while protecting fleeing fans.
Las Vegas police search for the gunman while protecting fleeing fans.
Fans run from the Route 91 Harvest festival after a gunman opened fire.
Fans run from the Route 91 Harvest festival after a gunman opened fire.
Others dive for cover.
Others dive for cover.
Some fans drop to the ground.
Some fans drop to the ground.
People run from the Route 91 Harvest festival.
People run from the Route 91 Harvest festival.
People scramble for cover.
People scramble for cover.
A man in a wheelchair is helped away.
A man in a wheelchair is helped away.
People run for cover. 
People run for cover. 
A person takes cover amid the shooting. 
A person takes cover amid the shooting. 
 A person runs barefoot from the shooting. 
 A person runs barefoot from the shooting. 
Police officers stop a man who drove down Tropicana Avenue near Las Vegas Boulevard, which had been closed.
Police officers stop a man who drove down Tropicana Avenue near Las Vegas Boulevard, which had been closed.
A pair of cowboy boots lies in the street outside the concert venue.
A pair of cowboy boots lies in the street outside the concert venue.

This article originally appeared on HuffPost.

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