Sturm Ruger (RGR) and Smith & Wesson (SWHC) were downgraded by KeyBanc Capital Markets, which said a recent surge in gun sales isn't sustainable and their shares are overvalued. The bank cut Smith & Wesson to hold from buy and reduced Sturm Ruger to underweight from hold. S&W fell 11.9% to 8.60, and Ruger slid 5.6% to 45.39.
America has no tolerance for wealthy people griping about their financial woes. But they have concerns too.