Shares of gun maker Sturm Ruger & Co.
RGR,
+0.12%
rose 1.4% in morning trading Thursday, putting them on track for a sixth straight gain, as President Joe Biden is expected to unveil a number of executive actions as he looks to address gun violence. The stock has climbed 7.2% during its win streak, which would be the longest since the six-day win streak ended Oct. 23, 2019. Meanwhile, shares of fellow gun maker Smith & Wesson Brands Inc.
SWBI,
-2.15%
fell 0.9% Thursday, after gaining in five of the previous six sessions. Industry experts have said the regulatory environment is often the biggest driver of demand for guns, and a catalyst for gun maker stocks. Biden is expected to announce tighter regulations requiring buyers of homemade firearms — “ghost guns” — to undergo background checks, and is expected to name former federal agent and adviser to a gun control group to be the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), according to an Associated Press report. Elsewhere, ammunition and shooting accessories maker Vista Outdoor Inc.’s stock
VSTO,
-0.22%
were little changed on Thursday. Over the past three months, shares of Sturm Ruger have lost 1.7%, Smith & Wesson have shed 5.5% and Vista Outdoor have rallied 15.9%, while the S&P 500
SPX,
+0.24%
has tacked on 6.9%.
