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Gun industry thrives in face of ban proposal
CNN Money ^ | 1/16/2013 | Aaron Smith

Posted on 01/16/2013 5:48:34 PM PST by tobyhill

Gun stocks rose Wednesday, even as President Obama called on Congress to pass an assault weapon ban.

The stock prices for Smith & Wesson Holding Co. (SWHC) and Sturm, Ruger & Co. (RGR) rose about 4%. The stock for Sturm, Ruger has risen 13% in the month since the shooting at a Newtown, Conn., elementary school that left 20 children and six educators dead.

Retailers that specialize in guns have also done well. The stock price for Cabela's (CAB) surged 6% on Wednesday and has gained 20% over the last month. Dick's Sporting Goods (DKS, Fortune 500) notched up slightly, and has gained 6% over the month.

Obama issued the call for the assault ban as part of a broad response to the Newtown shooting.

"Congress should restore the ban on military style assault weapons and a 10-round limit for magazines," the president said. Obama was referring to a 10-year ban that expired in 2004, which limited the capacity of magazines and restricted military-style features on semiautomatic rifles.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Extended News; Front Page News; News/Current Events
KEYWORDS: banglist; guncontrol; secondamendment; youwillnotdisarmus

1 posted on 01/16/2013 5:48:42 PM PST by tobyhill
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To: tobyhill

In 1994, scary-looking guns were exotic. Now, they’re mainstream.


2 posted on 01/16/2013 5:58:44 PM PST by Spirochete (Sic transit gloria mundi)
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To: tobyhill

Almost every gun shop I visit has a photo of Obama, framed with a brass rectangle that reads “Salesman of the Year”.


3 posted on 01/16/2013 6:12:06 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: tobyhill
The stock for Sturm, Ruger has risen 13% in the month since the shooting at a Newtown, Conn., elementary school that left 20 children and six educators dead.

After it plunged by 1/3 shortly after the Colorado and Oregon shootings.


4 posted on 01/16/2013 6:13:34 PM PST by Yo-Yo (Is the /sarc tag really necessary?)
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To: tobyhill
If gun control worked wouldn't Chicago be the safest place in America?


5 posted on 01/16/2013 7:08:45 PM PST by Baynative (Those that work for a living are now outnumbered by those that vote for a living.)
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To: Yo-Yo

Buying Ruger after after a shooting is always a profitable investment.


6 posted on 01/16/2013 7:42:24 PM PST by aimhigh ( Guns do not kill people. Planned Parenthood kills people.)
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To: Yo-Yo; tobyhill
"After it plunged by 1/3 shortly after the Colorado and Oregon shootings."

You're either misreading or misrepresenting the chart ?

Here are the dates of those shootings plotted on an fuller version of your chart - which includes the date of the CO shooting. It also plots the high and low during that period since July.

Note that Ruger went up $17.22 or 40% AFTER the CO shooting, and began a downward correction BEFORE the OR shooting. After the OR shooting it did continue down by 17% (of the 33% correction) before going up again to a higher price than at the time of the OR shooting.

The orange line in this chart - the stock's level at the time of the CO shooting - clearly shows that but for a very few days in mid December, the stock has since been at higher to very higher levels.

7 posted on 01/17/2013 7:42:32 AM PST by drpix
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To: Yo-Yo; tobyhill
The chart also shows that while gun shootings have not reduced but moderately lifted the stock price, the biggest gain was after the November election.


8 posted on 01/17/2013 8:04:05 AM PST by drpix
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