On January 4 Smith & Wesson Holding Corp. and Strum, Ruger & Co. rose sharply while “the Dow Jones Industrial Average tumbled 276 points.”
The fall in Dow Jones was attributed to “fears of a global economic slowdown,” while the rise in the value of gun stocks was posited as a response to Obama’s pending executive gun control.
According to the New York Daily News, Smith & Wesson “rose nearly 6% Monday” and Ruger rose 2.7%.
Smith & Wesson makes some of the best known and most trusted revolvers in the world, as well as a wildly popular line of concealed carry semi-automatic pistols under the M&P series. Ruger also makes concealed carry firearms–its LCP in 380 is one of the most popular concealed carry guns on the market–and Ruger set the tone for lightweight, polymer revolvers with the introduction of the LCR in .38 Special/.357 Magnum in 2010.
Breitbart News previously reported that stocks in Smith & Wesson and Ruger surged the day after Obama used his terrorism address to call for more gun control. Obama gave that address on December 6 and on the 7th NBC News’ Tom Winter reported that Smith & Wesson rose 6.5% while Market Watch reported that Ruger rose more than 7 percent.