Gun stocks are under pressure Wednesday, with the likes of Sturm Ruger & Company Inc
Donald Trump, President-elect, is believed to be a supporter of
With anti-gun legislation out of the equation, superfluous perspective would yield the deduction that
Wedbush analyst James Hardiman told Benzinga, "Although good for the long-term viability of the industry, we believe that a Trump victory when coupled with a Republican Congress and choice of Supreme Court justice(s) is a net-negative for the stock as it eliminates any realistic fear of gun regulation, which has been a major driver of gun sales over the past eight years and which was expected to be a positive factor in the early days of a Clinton administration."
Meanwhile, some of non-lethal security stocks are moving sharply higher.
At last check:
- Sturm Ruger & Company was slumping 10.64 percent to $57.55.
- Smith & Wesson plunged 8.93 percent to $25.91.
- TASER was down a more modest 1.16 percent to $22.23.
- Digital Ally was slipping 1.52 percent to $4.92.
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