Gun Stocks Rise Ahead of Obama's Gun Control Announcement

The president wants to increase background checks for gun buyers.

ByABC News
January 5, 2016, 10:47 AM

— -- Gun stocks are on a tear ahead of President Obama's announcement that he wants to use executive orders to implement background checks for gun buyers and sellers.

Shares of Smith & Wesson and Sturm Ruger are both trading higher Tuesday morning.

Smith & Wesson's stock started increasing in December and jumped in the hours ahead of President Obama's executive actions pertaining to background checks, which he was due to announce on Jan. 5, 2016.
Google Finance

President Obama has already released the details of the executive actions, which he is expected to announce later this morning. One of the measures clarifies an existing law that requires almost anyone who sells guns for a living to register as a firearms dealer and conduct background checks on clients. The president is also proposing new investments for mental health access, research into gun safety technology and additional Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) agents and investigators, although Congress would have to approve that funding.

ABC News' Ali Weinberg and Arlette Saenez contributed to this report.