Shots & Stocks: As Dow Nosedives, Guns Shoot to the Top

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.
Data pix.

NEW YORK -- With Wall Street taking us on a bumpy ride this week, stocks took a nosedive Thursday. At the closing bell, the Dow was down 392 points but not everybody was having a down day.

It looks like President Obama's emotional speech on gun control Tuesday may have backfired. After issuing executive orders intended to reduce gun violence, guns are now flying off the shelf. Gun maker Smith & Wesson's stock price closed higher Tuesday than at any point in the previous year.

Another gun manufacturer, Sturm, Ruger & company, closed at the highest price it's seen since August of 2015.

In fact, since Obama took office, shares of both gun manufacturers have each increased more than 900%, outperforming tech giant Apple.

Why the surge in sales? Apparently, the possible crackdown on gun regulation is creating some panic.

But here's something to think about: America might not be able to afford to stop its gun obsession, literally. The New York Times says shareholders in companies like Smith & Wesson and Sturm, Ruger are the nation's largest providers of 401(K)s, like Fidelity Investments.

Looks like this gun battle could result in some folks shooting themselves in the foot.

Don't Miss


Latest News

More News