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How President Trump is bad for the gun industry [View all]
President Barack Obama was the greatest gun salesman in America -- until Hillary Clinton ran to replace him. Sales soared to records because gun owners feared they would impose tougher gun restrictions.
Now that a Republican endorsed by the National Rifle Association is in the White House, those supposed villains have disappeared. Sales of guns and ammo are falling, right along with the stocks of gun makers.
- Snip -
Since Election Day, the two publicly traded gun manufacturers -- Sturm Ruger (RGR) and the former Smith & Wesson, which rebranded itself as American Outdoor Brand (AOBC) -- have suffered declines of more than 20% in their stock prices.
Background checks, which are conducted by the FBI for most gun purchases, dropped by 20% in January compared with a year earlier. And they were down 16% in December. Background checks do not precisely track gun sales, but they serve as the closest nationwide proxy.
http://money.cnn.com/2017/02/03/news/companies/trump-gun-ammo-sales/index.html
Now that a Republican endorsed by the National Rifle Association is in the White House, those supposed villains have disappeared. Sales of guns and ammo are falling, right along with the stocks of gun makers.
- Snip -
Since Election Day, the two publicly traded gun manufacturers -- Sturm Ruger (RGR) and the former Smith & Wesson, which rebranded itself as American Outdoor Brand (AOBC) -- have suffered declines of more than 20% in their stock prices.
Background checks, which are conducted by the FBI for most gun purchases, dropped by 20% in January compared with a year earlier. And they were down 16% in December. Background checks do not precisely track gun sales, but they serve as the closest nationwide proxy.
http://money.cnn.com/2017/02/03/news/companies/trump-gun-ammo-sales/index.html
Oh the irony. Now that the NRA/ILA/GOA can't use the "fear factor" to scam gun hoarders into buying more guns, the party's over. There are still too many guns on our streets and in our communities however, and we must not let our guard down. We must keep working for meaningful gun control at the local and state levels, and continue to advocate for sane and sensible gun control legislation.
Fewer guns = fewer gun deaths and injuries.
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