Business, Economics and Jobs

Gun stocks plunge after Sandy Hook shooting


A Smith & Wesson .357 magnum revolver is displayed for customers to rent at the Los Angeles Gun Club on December 7, 2012 in Los Angeles, California. Gun enthusiasts rent the the weapon to try out before making a purchase at a gun store . Leading firearms maker Smith & Wesson reports almost 50 percent increase in sales revenue.


Kevork Djansezian

Taking stock after the shooting at Sandy Hook elementary school: gun shares down, public anger up. 

Literally. Major firearms producer Smith & Wesson is down three percent and Sturm Ruger has fallen by two percent, reported Business Insider.

The downturn hits the industry at a high point -- Americans bought a record number of guns in November, according to government data. 

It's a trend some lawmakers are seeking to curb, with California Senator Dianne Feinstein vowing to introduce a new weapons assault ban in Congress in comments to MSNBC's Meet the Press on Sunday. 

The news comes amid mounting public outrage over 20-old shooter Adam Lanza's ability to arm himself with multiple weapons and hundreds of bullets before entering Connecticut's Sandy Hook elementary school on Friday and taking the lives of 20 children, most of them six- and seven-year-olds.

More from GlobalPost: Police: Sandy Hook gunman was loaded with ammo

Six adults were also killed. Lanza later shot himself. The incident is under investigation.