Shares of AMMO (NASDAQ: POWW) fell by 16.3% in September, according to data provided by S&P Global Market Intelligence, as heavy demand for firearms and ammunition seemed to ease up.
Raw FBI data shows criminal background checks on potential gun buyers through the National Instant Criminal Background Check System (NICS) fell by 13% in August and were down by another 9% in September compared to the same months last year.
Though in mid-August, the ammo maker delivered a blockbuster report for its fiscal 2022 first-quarter (which ended June 30), investors pulled back on its stock in September.
Source Fool.com