Charlie Kirk, the head of a conservative political organization in the United States, died after being shot at the age of 31.

On the 10th local time , Utah Speaker Mike Schultz confirmed that Charlie Kirk, the head of a conservative political organization in the United States who was shot that day, died. U.S. police said earlier that day that Charlie Kirk was shot at an event held in Utah that day.

Kirk’s killing has sparked strong condemnation between the two parties in politics as an important ally of Trump and co-founder of the conservative youth group Turning Point USA. California Governor Gavin Newsom called the attack “disgusting and reprehensible”.

Trump posted on social media:

The great, even legendary Charlie Kirk has passed away. No one knows or possesses the hearts of American youth better than Kirk.

Within hours after the shooting, gun stocks generally rose. As of the close of US stocks, Smith&Wesson’s share price rose 6.7%, American Outdoor rose nearly 5.3%, and Sturm Ruger rose 3.01%.

Analysts believe that political violence often triggers “panic buying” phenomenon, and investors expect conservative concerns about strengthened gun control will stimulate weapons sales. At present, the US police have not arrested the suspect, the campus has been closed, and the courses will be cancelled to further notice.

Market reaction: gun stocks rose sharply when they heard the news

After the news of Charlie Kirk’s shooting came out, the US stock market’s gun sector immediately strengthened.

, U.S. stocks rose more than 5% after the shooting, Smith & Wesson and American Outdoor rose sharply. After Charlie Kirk confirmed his death, Smith & Wesson continued to rise by more than 5% after the market closed.

(Smith & Wesson continues to rise by more than 5% after the market)

Kirk has long been a staunch Second Amendment supporter, often in public against stricter gun control policies. The analysis pointed out that the killing of conservative leaders may intensify the concerns among the right-wing groups about the government’s tightening of gun policies, thereby stimulating demand for weapons and ammunition purchases.

Historical data shows that whenever a large-scale or highly-watched shooting occurs, the social calls for strengthening gun control will rise, which in turn will stimulate consumers to buy in advance due to concerns about future gun purchases, thereby pushing up gun sales and manufacturer’s stock prices.