01-16-2013, 08:26 PM
Business impact of Obama's press conference today:
The FBI said its instant background check system processed 2.8 million requests last month, almost 1 million more than a year earlier. Some of the largest increases took place in New Hampshire, Rhode Island, Virginia, Oregon and Alaska, according to the Governing website.
Investors seem to have no worries about the gun industry. Shares of the two major gun makers were jumping Wednesday after Obama's call for sweeping gun control measures. The stock price of Smith & Wesson Holding Corp. (SWHC) rose more than 4% to $8.79. Shares of Sturm Ruger & Co. (RGR) rose 4% to $49.92.
Both stocks have seen significant growth over the last year. Shares of Smith & Wesson are up some 75% over that period, while Sturm Ruger has risen 25%.
Would investors be betting so heavily on a decelerating industry? Of course not, and Wall Street has thus sent its verdict to Obama: Your proposals are not happening.
http://t.money.msn.com/now/gun-sales-jum...strictions
I'm not sure if Wall Street is really sending that verdict to Obama or if people are instead investing because they know that the major gun makers' sales will boom up until some of Obama's ban proposals become reality; quick turn-around investments maybe. Either way, it's been a record-breaking year for the business of guns and NRA memberships. The NRA reiterated today its commitment to waging ultimate political warfare to block the proposed bans from becoming law.
The FBI said its instant background check system processed 2.8 million requests last month, almost 1 million more than a year earlier. Some of the largest increases took place in New Hampshire, Rhode Island, Virginia, Oregon and Alaska, according to the Governing website.
Investors seem to have no worries about the gun industry. Shares of the two major gun makers were jumping Wednesday after Obama's call for sweeping gun control measures. The stock price of Smith & Wesson Holding Corp. (SWHC) rose more than 4% to $8.79. Shares of Sturm Ruger & Co. (RGR) rose 4% to $49.92.
Both stocks have seen significant growth over the last year. Shares of Smith & Wesson are up some 75% over that period, while Sturm Ruger has risen 25%.
Would investors be betting so heavily on a decelerating industry? Of course not, and Wall Street has thus sent its verdict to Obama: Your proposals are not happening.
http://t.money.msn.com/now/gun-sales-jum...strictions
I'm not sure if Wall Street is really sending that verdict to Obama or if people are instead investing because they know that the major gun makers' sales will boom up until some of Obama's ban proposals become reality; quick turn-around investments maybe. Either way, it's been a record-breaking year for the business of guns and NRA memberships. The NRA reiterated today its commitment to waging ultimate political warfare to block the proposed bans from becoming law.