Shares Of Gun Makers Extend Fall – Smith & Wesson Holding Corporation (NASDAQ:SWHC), Sturm, Ruger & Company(NYSE:RGR)
Houston, TX –December 19, 2012 – (MESHPRESS) – Holeinonestocks.net, an investor research portal specializing in several sectors including biotech and healthcare and tech stocks on the U.S. market, issues news updates on the following stock:-
Shares of gun manufacturers Smith & Wesson Holding Corporation(NASDAQ:SWHC) and Sturm, Ruger & Company(NYSE:RGR) have again dropped on Tuesday after a private equity company stated that it was selling its stake in another enterprise that many have manufactured a weapon to kill elementary school children in Connecticut recently.
Is SWHC a Buy After The recent Slump? Get Free Trend Analysis Here
Cerberus Capital Management has said that it will sell its primary stake in manufacturer of Bushmaster rifles, Freedom Group International. The company said over a debate over gun control that the school shooting case that took place on Friday was a watershed event.
Dicks Sporting Goods Inc(NYSE:DKS) said on Tuesday that it is terminating sales of modern sporting rifles all over the nation after the school shooting. The sporting goods chain also mentioned that it is taking down all guns from the display at its store that is located near Newton, the place where the catastrophic incident took place.
A number of politicians, including President Obama have stated that they will be discussing the matter of stopping violence and discuss stringent laws for gun use after the killings.
Ruger has not yet commented on the matter.
How Should Investors Trade RGR Now? Find Out Here
Shares of Ruger have dropped another 8% to $40.60 in Tuesday’s session. Shares of SWHC also tumbled 87 cents to $7.79,
The National Rifle Association has broken its silence by issuing a statement on Tuesday. It expressed shock on the Newton shooting incident. It said that the NRA is ready to provide reasonable help in any form to ensure such an incident does not repeat itself.
Small gun retailers as well as gun manufacturers have depended majorly on the NRA to lobby against restrictions put on gun usage.
Looking at the recent times, US gun makers have always seen fast-growing sales in spite of strict state and feceral regulations. Manufacturing guns has been a lucrative business. Leading makers of guns recorded operating profit margins of 20% of late, as per Rommel Dionsio of Wedbush Securities.
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