Early selloff changes to big gain later in the morning
There was a selloff by some shareholders but there will be a big gain since SWHC beat consensus and also showed a big gain over last year plus has enough orders to keep it going at full strength for the next year and more.
The company reported fiscal fourth quarter profit of 44 cents per share, excluding certain items, matching estimates. Revenue beat consensus, as did the gun maker's current quarter revenue and income projections. Anticipation of new gun control laws has helped boost the company's sales, especially among first-time buyers.
Both revenue and income beat projections, which "beat consensus." Those who panic now will regret it later.