Why Ammo Stock Popped on Tuesday

Rich Smith, The Motley Fool
·1-min read
Why Ammo Stock Popped on Tuesday

Shares of ammunition manufacturer Ammo (NASDAQ: POWW) continued to pop off on Tuesday, the first trading day of this week -- and the second day since Ammo announced that it has won a contract to supply a "significant" amount of ammunition to a foreign buyer. As of 2:45 p.m. EST today, Ammo stock is up 5%, adding to the 1.9% gain it enjoyed the day after the contract was announced. On Thursday last week, Ammo informed investors that "it has entered into a significant international transaction involving 7.62 mm ammunition."