Gun makers slip as Citi sets restrictions on gun sales by business customers

Shares of Smith & Wesson parent American Outdoor Brands (AOBC) and Sturm Ruger (RGR) are slipping after The New York Times reported that Citigroup (C) is setting restrictions on the sales of firearms by its business customers. GUN SALE RESTRICTIONS: According to a report from The New York Times, Citigroup is setting restrictions on the sale of firearms by its business customers, making it the first Wall Street bank to take a stance in the gun control debate. The new policy prohibits the sale of firearms to customers who have not passed a background check or who are younger than 21, and bars the sale of bump stock and high-capacity magazines, the report added. The rules echo similar restrictions established by big retailers such as Walmart (WMT) and Dick's Sporting Goods (DKS). PRICE ACTION: In late morning trading, shares of American Outdoor and Sturm Ruger are fractionally down to $10.19 and $50.25, respectively.