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There was one group of stocks doing well because of President Obama's win: gunmakers.
Springfield's Smith & Wesson Holding Corp. had its biggest jump in months, rallying 10 percent to close the day at $10.37. Also doing well was Sturm Ruger & Co, which rose nearly 7 percent to $47.68. Both companies manufacture handguns and semiautomatic weapons. After years of failing to take on gun control, Obama signaled last month he would consider banning civilian purchases of military-style rifles.
"While we maintain our view that these political sales do not represent the entirety of recent firearms sales growth, we expect that with President Obama's re-election these sales could continue well into his second term," Mike Greene, analyst at Benchmark, wrote in a note to clients.
http://www.bostonherald.com/news/regional/view/20221108obama_win_fires_up_smith__wesson_stock/
Springfield's Smith & Wesson Holding Corp. had its biggest jump in months, rallying 10 percent to close the day at $10.37. Also doing well was Sturm Ruger & Co, which rose nearly 7 percent to $47.68. Both companies manufacture handguns and semiautomatic weapons. After years of failing to take on gun control, Obama signaled last month he would consider banning civilian purchases of military-style rifles.
"While we maintain our view that these political sales do not represent the entirety of recent firearms sales growth, we expect that with President Obama's re-election these sales could continue well into his second term," Mike Greene, analyst at Benchmark, wrote in a note to clients.
http://www.bostonherald.com/news/regional/view/20221108obama_win_fires_up_smith__wesson_stock/