Diamonds and Dogs
Smith & Wesson (SWBI) is up 4% today and up 80% in the last two weeks as gun sales remain strong. A number of states are easing rules and laws to make it easier to carry guns in public. Iowa, Tennessee and Wyoming joined the list of states that allow those 21 and older to carry handguns without a permit. Tennessee already ranks as one of the most violent state in the U.S. Texas will join them September 1. Guns sales have been fueled by the coronavirus pandemic, the protests last summer and the fears they both stoked.
Profit-taking in Walgreens Boots Alliance (WBA). The drug store chain is down 6% to a four-month low following strong earnings. Walgreens easily beat expectations as sales rose 12% to $34.03 billion. The company also provided upside to guidance, but fewer COVID-19 vaccinations in the quarter and rising costs concerned some investors about the future.
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