Gun makers whose sales have been lagging since President Donald Trump took office may be feeling a change in the political winds, the Wall Street Journal reported.
Smith & Wesson owner American Outdoor Brands Corp. registered three consecutive days of gains, with the stock rising 3.3%, boosted by its report that it had seen a recent bump in sales, the Journal reported.
Rival gun makers' stocks also rose, the Journal reported, including Sturm, Ruger & Co., and Vista Outdoor Inc., the nation’s biggest ammunition maker by sales.
According to the Journal, the companies’ longer-term prospects depend heavily on politics — but a wrong call can have big consequences.
Hillary Clinton’s anticipated victory in 2016 had sent gun sales soaring in anticipation of stricter regulations, but Trump’s surprise win left the firearms industry sitting on a big stockpile.
American Outdoor’s stock has declined roughly 66% since the day before the 2016 election, while Vista has fallen 78% and Sturm, Ruger has dropped 8%, the Journal reported.
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