whitebear
Member
I noticed that my S&W stock shot (no pun intended) up dramatically in price starting at about 1:00 PM CST. I checked to see why, and, lo and behold:
Smith & Wesson Riding Shotgun
Quoted from Forbes.Com, via the link above
Smith & Wesson Riding Shotgun
Smith & Wesson (nasdaq: SWHC - news - people ) is entering the shotgun market, announcing that it will unveil two new shotgun lines at a January trade show. Shares jumped nearly 8% in Thursday afternoon trading.
In September, the company had said that it was investigating whether to start manufacturing tactical rifles, hunting rifles and shotguns. The $1 billion long gun market is about 60% larger than the revolver and pistol market in which the legendary gun-maker specializes, according to the company.
“We have entered into an agreement with a team of industry veterans, who have formed a partnership and constructed manufacturing facilities with the sole purpose of producing our innovative line of Smith & Wesson designed shotguns,” said chief executive Michael Golden in a statement.
Shares of the company rose 96 cents, or 7.78%, to $13.25, where they have traded between $3.50 and $14.85 in the past year.
Quoted from Forbes.Com, via the link above