Posted on 09/08/2012 2:21:33 PM PDT by 2ndDivisionVet
The gun business is booming. The question is, why?
Smith & Wesson stock Friday was zooming, thanks to a stellar earnings report. The firearms maker also boosted its outlook for the rest of the year. Because of the strong business, its backlog of orders more than doubled from the same quarter last year, the company is concentrating on boosting production and building inventory.
“We are underserving the market at this moment, we all know that, and that's a great opportunity going forward for us,” CEO James Debney said in a conference call with analysts.
And another gun maker, Sturm, Ruger & Co., also hit a milestone of sorts in terms of meeting consumer demand. It produced its one-millionth gun of the year…well ahead of last year’s pace.
"It took us nearly all of 2011 to build one million firearms, but in 2012 we accomplished it on August 15th,” said Ruger President and CEO Mike Fifer in a statement.
What’s driving the demand that has gun makers cranking up production?
Speculation has focused on fears of a coming regulatory crackdown on gun ownership. Liberal administrations tend to be anti-gun and so, the thinking goes, an Obama re-election would set the stage for stricter gun purchasing requirements. Hence, people are buying now in anticipation of difficulty later....
(Excerpt) Read more at cnbc.com ...
“I don’t know how you guys have so many”
In 1993 soon after Clinton was elected, I could see the writing on the wall, I started buying guns and ammo and have not looked back since!
BTTT
Prices seem to have been relatively stable this year for both guns and ammunition, owning to an increase in supply as well as demand. Unlike three years ago, ammunition shelves (at least in my region) are heavily stocked and firearms inventories are being replenished even though guns stores are clearly doing a brisk business.
Man, talk about a tragedy! The same thing happened to me just yesterday. I was taking the boys out bass fishing when all of a sudden this big wave turns the boat over, sinking our fishing equipment, my beer cooler and my guns to the deepest part of the murkiest part of the lake. I fear they’ll never be recovered. And here I spent all my money on them, never to be replaced.
I contributed to the bounce this weekend :)
An old saw states that a good handgun always costs about one ounce of gold.
Prices aren’t going up, the value of a buck is plummeting.
At the ATF, there its called Fast and Furious.
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