Gun Companies Missing Effects of Trump Bump
Sturm, Ruger Sales fell 22%.
Sturm, Ruger & Co. (RGR) - Get Report shares tanked more than 9% Thursday after releasing second quarter data that showed a 22% drop in year over year sales.
The drop in sales can be attributed to the comfort second amendment advocates have that a Trump administration will not sign any legislation into law that would limit their right to bear arms.
Gun stocks had a meteoric rise last year in the run-up to the presidential election on fears that a Hillary Clinton administration wouldn't be as protective of gun rights as a Republican president.
Sturm, Ruger sales were down 9% to $52.50 in afternoon trading Thursday.
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