The Department of Commerce’s Bureau of Industry and Security said it rescinded an interim final rule issued by the Biden administration, which imposed export controls on civilian firearms and related ammunition and components. “The rescission of the Firearms IFR will allow U.S. firearms manufacturers to compete in overseas markets, creating hundreds of millions of dollars per year in export opportunities,” the agency said in a statement. Shares of Smith & Wesson Brands (SWBI) jumped 3% to $9.98 following the announcement while Sturm Ruger (RGR) rallied 1% to $44.01.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SWBI:
- Smith & Wesson, Sturm Ruger jump after U.S. rescinds Biden firearms rule
- Smith & Wesson Brands Holds Annual Stockholders Meeting
- Smith & Wesson Earnings Call: Mixed Results and Future Outlook
- Smith & Wesson Reports Q1 Fiscal 2026 Results
- Smith and Wesson options imply 9.3% move in share price post-earnings