Obama is an okay president, but probably the best gun salesman ever
- 9 years ago
WASHINGTON — Gun owners may cringe every time President Barack Obama opens his mouth about gun control, but gun investors love it because it drives up gun sales.
Whenever Obama talks about the need for tougher gun control laws, gun stocks have the tendency to shoot up.
Gun related stocks saw a surge again on Monday after reports that Obama would announce executive actions on Tuesday concerning gun ownership.
According to CNN Money, in what turned out to be an ugly day for the overall market, shares of Smith & Wesson shot up 6 percent. Sturm Ruger rose 3 percent.
Ammunition manufacturers Olin and Vista Outdoor both saw gains as well.
Gun stocks gained again on Tuesday as Obama formally unveiled his new gun control plans, with Smith & Wesson up 11 percent in midday trading and Sturm Ruger up 7 percent.
Chris Kreuger, a Lake Capital Markets analyst, told CNN Money that gun control isn't the only thing driving the stocks up. Every time their is another mass shooting, some consumers will rush to buy more guns for their own personal protection.
For the time being gun stocks seem to be hot, so you might as well load up now.
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Whenever Obama talks about the need for tougher gun control laws, gun stocks have the tendency to shoot up.
Gun related stocks saw a surge again on Monday after reports that Obama would announce executive actions on Tuesday concerning gun ownership.
According to CNN Money, in what turned out to be an ugly day for the overall market, shares of Smith & Wesson shot up 6 percent. Sturm Ruger rose 3 percent.
Ammunition manufacturers Olin and Vista Outdoor both saw gains as well.
Gun stocks gained again on Tuesday as Obama formally unveiled his new gun control plans, with Smith & Wesson up 11 percent in midday trading and Sturm Ruger up 7 percent.
Chris Kreuger, a Lake Capital Markets analyst, told CNN Money that gun control isn't the only thing driving the stocks up. Every time their is another mass shooting, some consumers will rush to buy more guns for their own personal protection.
For the time being gun stocks seem to be hot, so you might as well load up now.
-------------------------------------------------------------
Welcome to TomoNews, where we animate the most entertaining news on the internets. Come here for an animated look at viral headlines, US news, celebrity gossip, salacious scandals, dumb criminals and much more! Subscribe now for daily news animations that will knock your socks off.
Visit our official website for all the latest, uncensored videos: http://us.tomonews.net
Check out our Android app: http://bit.ly/1rddhCj
Check out our iOS app: http://bit.ly/1gO3z1f
Get top stories delivered to your inbox everyday: http://bit.ly/tomo-newsletter
Stay connected with us here:
Facebook http://www.facebook.com/TomoNewsUS
Twitter @tomonewsus http://www.twitter.com/TomoNewsUS
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Instagram @tomonewsus http://instagram.com/tomonewsus