G
Guns Guns Guns
Guest
Gunmaker stocks are sliding in the aftermath of last week's shooting at Sandy Hook Elementary School, reigniting talk of gun control.
Shares of Smith & Wesson (SWHC) ended down 48 cents, or 5.2%, to $8.65 each Monday, and Sturm Ruger (RGR) shares closed down $1.57, or 3.5%, to $44 apiece.
Shares of Cabela's (CAB), a seller of outdoor gear including firearms, finished down $2.72, or 6.2%, to $41.21 each.
Mutual fund companies hold most of the outstanding shares of both Smith & Wesson and Sturm Ruger. Vanguard, the largest single shareholder of Smith & Wesson, owns 6% of the shares outstanding, says research firm S&P Capital IQ. Investment group BlackRock is the largest single shareholder of Sturm Ruger, has 7.9% of Sturm Ruger's outstanding shares.
Investors fear the Connecticut shooting might end what has been a strong period of weapon sales and trigger legislative efforts for more stringent gun control laws.
A citizen petition calling for stricter gun controls posted on the White House's We the People page already has gathered more signatures than any other posted to the website.
http://www.usatoday.com/story/money/business/2012/12/17/gunmakers-smith-wesson-ruger/1774417/
Shares of Smith & Wesson (SWHC) ended down 48 cents, or 5.2%, to $8.65 each Monday, and Sturm Ruger (RGR) shares closed down $1.57, or 3.5%, to $44 apiece.
Shares of Cabela's (CAB), a seller of outdoor gear including firearms, finished down $2.72, or 6.2%, to $41.21 each.
Mutual fund companies hold most of the outstanding shares of both Smith & Wesson and Sturm Ruger. Vanguard, the largest single shareholder of Smith & Wesson, owns 6% of the shares outstanding, says research firm S&P Capital IQ. Investment group BlackRock is the largest single shareholder of Sturm Ruger, has 7.9% of Sturm Ruger's outstanding shares.
Investors fear the Connecticut shooting might end what has been a strong period of weapon sales and trigger legislative efforts for more stringent gun control laws.
A citizen petition calling for stricter gun controls posted on the White House's We the People page already has gathered more signatures than any other posted to the website.
http://www.usatoday.com/story/money/business/2012/12/17/gunmakers-smith-wesson-ruger/1774417/