Skip to comments.Gun sales set to rise, Smith & Wesson stock jumps after Obama win
Posted on 11/08/2012 4:10:55 PM PST by mgist
Gun sales set to rise, Smith & Wesson stock jumps after Obama win
Gun sales are poised to boom, based on the increased number of firearms background checks being performed.
By Tiffany Hsu November 7, 2012, 10:45 a.m. While investors moping over President Barack Obamas reelection sent the Dow spiraling down more than 300 points Wednesday morning, one sector is seeing a surge: gun manufacturing.
Firearms maker Smith & Wesson Holding Corp. surged 10.8% to $10.48 a share in morning trading, more than double its price at the beginning of the year.
Sturm, Ruger & Co. Inc. got a 6.4% boost to $47.48 a share, a 39% increase from early January
The impetus? Gun sales are expected to boom now that Obama, who said during one presidential debate that hes open to reintroducing an expired ban on civilian purchases of assault weapons, is returning to office.
In October, the number of firearms background checks performed on potential gun buyers jumped 18.4%, according to the FBI, as cited by Benchmark Research. The data is considered to be a leading indicator for future gun sales.
Gun sales have seen double-digit growth since 2006 amid major product innovation and increasing social acceptance of firearm use, according to Benchmark.
Gun control advocates have pushed Obama to take a stronger stance on weapons ownership since the July mass shooting in Aurora, Colo.
(Excerpt) Read more at latimes.com ...
Gun sales set to rise...............
If one has not armed them self before now with what one belives is the proper kinds and amount of weapons and ammo.
You will be paying the price of doing so in more then one way.
Nice to see that the Obama Administration is promoting gun sales...hehe.
Can IRA’s hold guns?
Note to self - Glad I bought a bunch of ammo before the election. Note to other patriots — time to buy more guns and ammo before the hording begins again.
How should a true conservative have voted, if they were a smith & wesson employee or big stock holder?
I mentioned this earlier, but a couple years ago, my husband thought SWHC would be a good buy, it was cheap. It stayed flat for awhile, but lately it’s taken off. Wondered what would happen if Obama won, now we know.
I heard on Fox Business if you don’t sell by years end Capital Gains tax is really going to cut into profits. Anybody know exactly how much of a rate hike that will be?
No one ever has enough guns or ammunition, but your right I would hate to be starting from scratch.
Of course. Companies wanna make money before it becomes illegal.
I think it’s too late to start now. I went to Academy on Wednesday at lunch and spent $1200 to buy a few things I’ve been wanting. No line. My brother in law went to a pawn shop today an said you couldn’t get to the gun counter.
I’ve been giving some serious thought to selling a couple of guns that I’ll probably never shoot again (and one that I’ve never shot, it’s still brand new!) My guess is that this might be a good time to think about selling...
Anybody have some ideas of the value of these?
Ruger Vaquero, .45LC (new, never fired)
Ruger Redhawk .44Mag
And this one is special...
Colt CAR-15 SP1 (the original, pre-ban Colt AR carbine... No forward assist, no case deflector (I’m left handed, and every round fired has the case hitting my glasses). The retractable stock is 2 position, fully open, fully closed, (and it doesn’t have anywhere enough pull for me). It’s in very good condition.
Not advertisements, just wondering if the vast knowledgebase of Freepers might have an idea of the values of these weapons. Or if I should hold on to them for a while, hoping the value goes up.