Josh Anderson, Associated Press
Now that the election is over and Obama is re-elected, voters are apparently expected to stock up on firearms.
Stocks plunged on news of President Barack Obama’s re-election, dropping the Dow by 245 points in the first hour of trading, according to a recent article.
But gun manufacturers have managed to avoid the drop.
Smith & Wesson Holding Corp., a firearms manufacturer, saw its stocks jump 10.8 percent to $10.48 per share in morning trading on Wednesday, according to the L.A. Times.
Sturm, Ruger & Co. also saw a 6.4 percent rise to $47.48 per share, which is a 39 percent increase since the beginning of 2012.
Consumers are expected to stock up on guns now that Obama has been re-elected, according to the LA Times.
No, it’s not because of anger. It’s because Obama has promised stricter gun restrictions during one of his presidential debates.
- 'Another piece to the puzzle': Census reveals...
- How do Utah wages stack up nationally?
- Is the 40-hour workweek falling out of fashion?
- Clinton: GOP threatening small-business jobs
- Koch brothers group launches Utah chapter
- Balancing act: Survey: Millennials seek...
- Utah jobless rate holds steady at 3.4 percent
- Dave Ramsey says: Gaining control of your...
- How do Utah wages stack up nationally? 50
- Koch brothers group launches Utah chapter 42
- Balancing act: Survey: Millennials seek... 13
- Clinton: GOP threatening small-business... 7
- Smith's hopes to pass savings from... 7
- Banks fined more than $5B, to plead... 6
- 'Another piece to the puzzle': Census... 6
- McDonald's CEO faces shareholders amid... 3