Firearm Stocks Jump After Supreme Court Overturns Handgun Ban (RGR, SWHC)

Shares of two publicly-traded firearm companies are higher today after the U.S. Supreme Court overturned Chicago's ban on individual ownership of handguns.

The Supreme Court voted 5-4 to overturn the ban.

Justice Samuel Alito said "the right to keep and bear arms must be regarded as a substantive guarantee, not a prohibition that could be ignored so long as the States legislated in an evenhanded manner."

Shares of Sturm, Ruger & Co. Inc. (NYSE: RGR) are up 3 percent and Smith & Wesson (Nasdaq: SWHC) is up 5 percent.

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