Took the bounce and scalped some dough. I had hoped for a better bounce but the market isn't cooperating. I also am now worred about how much money people can spend on guns/ammo when oil/ammo prices are skyrocketing, layoffs are happening and home prices continue to plummet. I'll wait to buy back in.
The price of ammo argument may have some merit but it is weak. Been to your local gun retailer lately? Busy as hell. The LCPs don't stay on the shelf in my town more than a couple days. Price of ammo may keep folks from the ranges, but it doesn't seem to stop them from buying/collecting, at leat not yet. IMO, Ruger should have at $200-250 mill. market cap based on LCP sales alone. Resolving the SR9 issues should only be icing on the cake - or tritium on the sights if you prefer.
Big time buy in at close... should bode well for the coming week.
I disagree on the concern over spending on guns/ammo. Having lived through several economic downturns... guns and ammo have always done well.
I think this a more panic driven economy because of the election.
I remember last summer we were paying $3.25 for gas and are now paying $3.89. Not exactly a catastrophic increase. Our unemployment rate is low especially when compared to the ten year average. This economy is actually very strong and the lower dollar is helping our exports.
As mentioned above in the previous post the "Sheeple" will start bunkering up with guns and ammo. I went through the Carter era Recession which makes this current economy look like an economic super nova.
Ruger stock is an incredible stock and only getting better.
A damn good find.