Smith & Wesson soars to eight-year high on gun control talks

American gun makers Smith & Wesson Holding Corp. (Nasdaq: SWHC) and Sturm, Ruger & Co. Inc. (NYSE: RGR) experienced a surge in share value as the national conversation centers around increasing firearm restrictions.

Smith & Wesson stock jumped to as high as $20.62 per share Monday – its highest mark since October 2007. Shares of Ruger, which climbed 57 percent for the year through Dec. 4, reached $58.90.

Analysts report that consumer fear over potentially increased gun control measures and for personal safety in the wake of recent shootings are driving firearm sales in the U.S., according to Bloomberg Business.

The number of background checks performed by the FBI in November increased 7.7 percent from a year earlier. Checks for handgun sales increased 22 percent, while rifles and shotguns declined 3.8 percent.  

Read more from Bloomberg Business.