Investing.com - U.S. gun maker stocks surged on Tuesday following the publication of a report from Reuters claiming that the Trump administration will make it easier for companies to sell guns to foreigners.
According to the Reuters report, the draft of new rules that would shift the management of international non-military firearms sales from the State Department to the Commerce Department could be reviewed by the White House budget office within days. With the Commerce Department America’s trade-focused body and the State Department security focused, the shift is seen as potentially relaxing sales regulations.
U.S. gunmakers including American Outdoor Brands Corp (NASDAQ:AOBC), Sturm Ruger & Company Inc (NYSE:RGR), and Vista Outdoor Inc (NYSE:VSTO) surged on Tuesday. AOBC added 10.1%, RGR 13.7%, and VSTO 3.1%.