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.