Adam Henderson shops for a rifle at Guns and Leather, a firearms store and shooting range, in Greenbrier, Tenn. in 2009. Gun sales are expected to rise on the heels of Barack Obama's re-election Tuesday.
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.
EMAIL: jferguson@desnews.com
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Joey Ferguson is a business reporter for the Deseret News who focuses on public finance. He joined Deseret News after graduating from Brigham Young University-Idaho with a bachelor's degree in journalism in May 2011. He more ..
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CHS: Oliver North was a war hero who's boots Eric Holder isn't fit to shine! The Iran contra arms deal didn't kill Americans or protect drug dealers! The weapons you mentioned were used to protect innocent lives from a dictator thug! More..
Gun sales have skyrocketed throughout Obama's time in office. More guns were sold, thus you could argue more were bought than any other presidential era.
It's the politics of fear that many people love to embrace. Hurry, hurry, More..
@Mountanman
Maybe he can get a job like Oliver North? After all, shredding official documents to cover an arms deal in the tens of millions of dollars is okay if one is a Republican, right? I'm sure none of the TOWs and HAWKs sold More..