Skip to comments.Midday Market Minute: Gun Industry Thrives in Face of Ban Proposal
Posted on 01/17/2013 10:13:08 AM PST by 2ndDivisionVet
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) 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 dailyfinance.com ...
Wall Street basically saying, “Gun control is dead”.
I got an email yesterday from Cheaper Than Dirt saying they’ve got MAGAZINES IN STOCK!....
I went to the site and checked in....yeah they had some...mostly AK mags and a few ARs.....Get this....their 100 round Beta Mag for the AR was $699!!!!! Some of the other mags that I have and got for a song are running $100 apiece....
remember congress is exempt from insider trading laws.
(even if they are not exempt they are still exempt)
It would be interesting to see who is invested on the democrat side.
Why were MILLIONS of rounds of ammo bought by the HHS, IRS, etc., just a short while back? Trying to shorten supplies for Consumers, or, have a plan to have to USE them?
I was wondering the same thing just the other day...
There’s a whole bunch of cop shops running low, and they ought to pimp the IRS and HHS for their supply, since they don’t have the staff sufficiently trained to use it!
It don’t matter what the prezzy wants. All that matters is what the largest militia ever to be assembled on this planet wants. And we are over 100 million strong.
If they make them we will come!