Gun stocks slump following Trump presidential win
Firearm stocks opened high Wednesday, but within just a few hours began steadily dropping. By end of the day, three major gun manufacturers saw declines in their share prices.
Vista Outdoors made out the best out of the three companies, with only a 3 percent drop. Sturm, Ruger & Company plunged 14 percent — the largest decrease the company’s seen since February 2014. In the most stunning decline, however, newly renamed Smith & Wesson closed out with a 15 percent plummet in shares.
By no coincidence whatsoever I said to a friend of the blog on election day that I should do something about my slowly-dwindling 7.62X39 supply before Hillary hikes the federal ammo sales tax to $5/round. I sipped coffee yesterday morning, savoring the unexpected news of her retirement and wondering if I should back off the urgency on that ammo thing.
Nah.
I suppose the major concern now is what nasty surprises The One might attempt as a “parting shot” on his way out. Not likely, but certainly not impossible.
I’ve flipped a coin and decided to await the inauguration of President Trump to see how the market and prices shake out. Things are gonna be a little “unsettled” for a while, but will smooth out later in 2017.
Tell you the thing I’m waiting to see – If Obama pulls a “last 30 days” binge of totalitarian exec orders that won’t surprise me a bit. I’d be pleasantly surprised if Trump undoes them as promised.
In 1980 Ronald Reagan, everybody’s favorite president, promised to dismantle the newly-minted department of education. He was duly elected that year, and barely ever mentioned the matter again. The dems decree, the repubs complain but fail to repeal – next cycle the repubs decree and the dems complain but fail to repeal. And so it goes.
If the stock is made of a good quality hardwood, machined aluminum, or even a good ABS plastic, they shouldn’t slump at all.
I was thinking in the same way. Dad and I are in much better shape than the last time the run on ammo came around as far as being stocked up on powder and primers. I am slowly going to keep stocking up on brass and lead/bullets. I wish a guy could get buckets full of wheel weights still. Should have stocked up a lot more than I did when that was still possible.
Dean