Gun shares up as Obama wins

Investor's Business Daily

Shares of Smith & Wesson (SWHC) and Sturm Ruger (RGR) jumped after President Obama was re-elected. Gun sales have risen in recent years on concerns the gov't might enact tougher gun control laws. Gun sales were already at a brisk pace prior to the election. Last Fri., for example, an FBI report said firearms checks prior to buys rose 18.4% in Oct. Smith & Wesson, with a strong IBD Composite Rating of 96 out of a best-possible 99, climbed back above its 50-day average line; shares rose 9.6%. Sturm Ruger shares rose 6.8%.

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