Gun Stock Investors: Obama’s Moves Amount to Nothing
President Obama signed 23 Executive Orders today at his much-awaited news conference on gun control.
He put adorable children on the podium with him. He put gun shooting victims' families in the audience. He looked very serious.
But if you think these orders will make a difference to the companies that make the menacing-looking rifles everyone supposedly hates, think again.
That's because Smith & Wesson and Sturm Ruger had wonderful days on the stock market today. Shares in both of those companies finished significantly higher. And the market rarely lies.
If you think Smith & Wesson and Sturm Ruger only make handguns and hunting rifles, also think again.
Gun makers, like any company that makes products, rely on sales. And if investors of those companies believe sales will fall because of tougher background checks or outright bans, then they'd be worried.
Instead, those investors cheered loudly today.
Scoring political points is one thing, making a real difference is another.
So when your local newspaper splashes the banner headline tomorrow on the front page about all that President Obama did today to stop gun violence, try turning to the business section first for the real story.
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