Gun stocks American Outdoor Brands (AOBC) and Sturm, Ruger (RGR) were both climbing Friday afternoon. This came during President Donald Trump's speech at the National Rifle Association. While campaigning, Trump came out heavily in favor of gun rights. Trump's visit to the NRA is the first time since 1983 a sitting president has addressed the group. Trump is making his speech just outside of Atlanta.
Sturm, Ruger shares were up more than 1% Friday afternoon while American Outdoor Brands was rising just under 1%.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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