Corporate pressure on NRA builds as more companies cut ties
The National Rifle Association, or NRA, an American organization that advocates for gun rights, is seeing more public pressure mount from corporations that it has partnered with in the wake of the Parkland, Florida school shooting, which resulted in 17 deaths. As of this morning, the NRA had already lost its partnership with the nation's largest privately owned bank, First National Bank of Omaha, as well as Enterprise Holdings, which owns the Enterprise, Alamo, and National car rental brands. The NRA also saw formerly affiliated hotels Best Western and Wyndham Hotels distance themselves from the organization. MORE PARTNERSHIPS DROPPED: Over the course of the day, more companies joined the growing chorus, including Hertz (HTZ), which ended its rental car discount program with the NRA, Symantec (SYMC), which stopped its discount program with the NRA, Metlife (MET), which ended its insurance discount program with the NRA, and Chubb (CB), which will stop underwriting a NRA-branded insurance policy for gun owners. PRICE ACTION: Publicly traded gunmakers rebounded in afternoon trading, with American Outdoor Brands Corp (AOBC), formerly known as Smith & Wesson, closing down 1.2% to $10.00, and Sturm Ruger & Company (RGR) closing higher by 1.84% to $49.90. Vista Outdoor (VSTO) closed down 1.47% to $18.15 per share.