Without the gun industry whipping them into a frenzy by telling them Obama’s going to take their guns away, people are less interested in buying more guns.
Gosh, whodda thunk?
Alliant’s (ATK, Fortune 500) stock price dropped 1.5% Thursday, after seeing its shares surge 38% over the last year. Ammunition maker Olin Corp. (OLN) fell 1.2%, after climbing more than 13% over the last year. Smith & Wesson Holding Corp. (SWHC) managed a 1.7% gain Thursday, while Sturm, Ruger (RGR) slipped 1.5%.
The stock price for Cabela’s (CAB), a retailer dependent on gun sales, dropped nearly 5%…
Brian Rafn, a gun industry analyst and director of research at Morgan Dempsey Capital Management, said gun companies are going to have to figure out how to remain profitable now that the “visceral political craziness is removed from the equation.”
Don’t worry, the NRA and Gun Owners of America will come up with new lies tomorrow, and the people they’re counting on to believe them will dump more money on guns and ammo.