Yesterday, it was a sad day for US politics as Charlie Kirk, a conservative activist and close Trump ally, got assassinated while he was speaking at a Utah college event.
Based on videos taken by attendees (always take with a grain of salt until confirmed officially), it looks like the perpetrator fired from a roof almost 200 metres away from Kirk. I'm not an expert, but I guess it takes a skilled sniper to land that shot. The manhunt is still underway after two suspects got released.
Now, in the markets, the logical reaction was for firearms related companies to rise in price, which is exactly what happened. Shares of Smith & Wesson ($SWBI), Outdoor Holding Company ($POWW) and so on spiked into the market close.
This was due to speculation that such a high figure assassination could spark debate on stricter gun control, which has historically led to a surge in gun sales and stock prices. Moreover, given the recent unprovoked murder of a young Ukrainian refugee, Iryna Zarutska, on a train, there's a strong sentiment of radicalisation in the US and demand for self-defence could increase.
