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Why AMMO Shot 11% Higher Today

Shares of AMMO (NASDAQ: POWW) soared 11.4% on Wednesday after reporting fiscal fourth-quarter earnings that showed sales rocketed 409% from the year-ago period, while adjusted profits surged 296% higher.

The firearms industry remains white hot, with gun manufacturers Smith & Wesson Brands (NASDAQ: SWBI) and Sturm, Ruger (NYSE: RGR) seeing record demand from buyers. The sale of firearms is translating into even greater demand for ammunition, one that manufacturers are having difficulty keeping up with.

Image source: Getty Images.

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