American Rebel (NASDAQ:AREB) stock is taking off on Thursday as investors react to news of Liberty Safe providing access codes to the Federal Bureau of Investigation (FBI).
According to a statement from Liberty Safe, it gave the FBI a code to access a customer’s safe due to the agency having a warrant. In reaction to that, customers have been criticizing the company on social media for having master codes for its products.
Following this news, American Rebel put out a press release stating that customers have been calling it to switch from Liberty Safe to its own Champion Safe brand. Champion Safe is a subsidiary of American Rebel that was acquired in July 2022.
Andy Ross, CEO of American Rebel, said the following in a news release:
“We welcome all the calls from safe dealers and customers who feel the same way we do […] We stand behind the Constitution and are committed to protecting our customers’ privacy rights.”
AREB Stock Movement Today
With the recent Liberty Safe fiasco, investors are putting extra attention on AREB stock. As a result, the company’s shares are seeing heavy trading on Thursday. That has more than 3.5 million shares changing hands as of this writing. For the record, the company’s daily average trading volume is roughly 381,000 shares.
AREB stock is up 39.7% as of Thursday morning but down 80% year-to-date (YTD) as of Wednesday’s close.
Investors keeping an eye out for more of the most recent stock market news will want to stick around!
We’re offering up all of the latest stock market news traders need to know about on Thursday! Among that is why shares of China SXT Pharmaceuticals (NASDAQ:SXTC) stock are up today, the biggest pre-market stock movers this morning and more. All of that news is available at the following links!
More Stock Market News for Thursday
- Why Is China SXT Pharmaceuticals (SXTC) Stock Up 24% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Billionaire Bill Gates Is Betting Big on Anheuser-Busch (BUD) Stock
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
