Trump win sinks gun stocks and gun shop sales
By Post Staff
November 21, 2016 | 11:04am
Owners of Smith & Wesson stock who voted for Donald Trump must feel like they shot themselves in the foot.
While their candidate is riding high — and will be sworn in as the country’s 45th president in just 61 days — their portfolio is feeling a little tattered.
Since Election Day, Smith & Wesson shares were down 15 percent heading into Monday’s opening bell. Shares of Sturm, Ruger were down 17 percent over the same span.
And the pain may not be temporary.
Americans who raced to gun shops to buy guns over the past four years — and in the four weeks leading up to Nov. 8 — out of fear Pres. Obama and Hillary Clinton (who was then leading in the polls) would soon move to cut off their Second Amendment rights, are now slowing the buying spree.
Gun shop owners are seeing a steep drop-off in sales since Election Day.
Dave Larsen, the sales manager at Doug’s Shoot’n Sports in Salt Lake City told the local Fox TV affiliate that business is off since Trump won.
“I did have one gentleman order a gun from me on Tuesday, and then after the election results came in he called me and said, ‘Dave, let’s cancel that order,’” Larsen said. “I asked him point blank, ‘Is this because Donald won?’ And he said, ‘Yeah, kind of.’ ”
Larsen said the customer later decided to keep the gun.
It’s quite a let down for gun shop owners who saw record sales in October.
After posting double-digit declines over the eight trading days since Election Day, Smith & Wesson shares picked up on Monday, jumping 2.2 percent in morning trading, to $24.66.
Sturm, Ruger shares inched up 15 cents, to $53.35.
http://nypost.com/2016/11/21/trump-win-sinks-gun-stocks-and-gun-shop-sales/
