Talk of gun ban is helping industry, for now
Thursday, January 17, 2013 12:15 PM
All the debate about gun control is actually helping the gun industry, CNNMoney.com reported.
The stock prices for Smith & Wesson Holding Co. and Sturm, Ruger & Co. rose about 4 percent yesterday, and the stock for Sturm,Ruger has risen 13 percent in the month since the shooting at a Newtown, Conn., elementary school.
Retailers that specialize in guns have also done well. The stock prices for Cabela's Inc. has gained 20 percent over the past month, and shares of Dick's Sporting Goods Inc. have risen 6 percent over the last month.
President Barack Obama called for an assault weapon ban as part of a broad response to the Newtown shooting.
But the possibility of a potential ban in the wake of mass shootings around the country has prompted gun enthusiasts to stock up on the weapons before they can be denied.