UPDATE: Is Selling Guns Toxic? Dick's (DKS) Stops Selling Rifles in All Stores

December 18, 2012 11:23 AM EST
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(Updated - December 18, 2012 11:30 AM EST)

Gun maker stocks have pushed lower yet following reports that Dick's Sporting Goods (NYSE: DKS) has suspended rifle sales in all of its stores following Friday's Sandy Hook school killings that left 28 dead, including 20 children.

Smith & Wesson Holding Corporation (NASDAQ: SWHC) is down 9.9%, while Sturm, Ruger & Co. Inc. (NYSE: RGR) is down 7%.

In a statement, Dick's said:

We are extremely saddened by the unspeakable tragedy that occurred last week in Newtown, CT, and our hearts go out to the victims and their families, and to the entire community.

Out of respect for the victims and their families, during this time of national mourning we have removed all guns from sale and from display in our store nearest to Newtown and suspended the sale of modern sporting rifles in all of our stores chainwide.

We continue to extend our deepest sympathies to those affected by this terrible tragedy.

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