The Department of Commerce’s Bureau of Industry and Security said it rescinded an interim final rule issued by the Biden administration, which imposed export controls on civilian firearms and related ammunition and components.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.
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