Famous gun maker Smith & Wesson is under fire in the stock market, reports
the LA Times
, seeing its share price fall 5% on Monday in the wake of Friday's horrific shooting in Connecticut.
Rival firearms manufacturer Sturm, Ruger & Co., has likewise seen its stock price take a tumble in recent days, notes the paper's Tiffany Hsu, marking a mild reversal of fortune for the industry that has seen explosive growth in sales during President Obama's time in the Oval Office.
"Gun sales have seen double-digit growth since 2006," Hsu notes (as do we
). "Stocks in the sector surged after Obama's reelection as analysts predicted that consumers would stock up on weapons."
Where do other gun makers stand following Friday's massacre? It's tough to know, Hsu points out, because most of the companies plying their trade with those in self defense, hunting and law enforcement are privately owned.
Via the LA Times