Shares of gun maker Smith & Wesson tumble after Connecticut shooting

[IDemo]

Source: Los Angeles Times

Stock prices of gun makers have tumbled on Wall Street amid a surge in discussion about gun control in the aftermath of the devastating shooting at a Connecticut elementary school last week.

Shares of Smith & Wesson Holding Corp. fell as much as 5% on Monday after sinking more than 4% on Friday – the day that Adam Lanza opened fire at Sandy Hook Elementary School, in Newtown, Conn., killing 26 people, including 20 children.

Sturm Ruger & Co., another firearm maker, saw its stock price fall nearly 3% on Monday after dropping more than 4% on Friday.

The companies’ websites have stayed mum about the shooting.

Read more: http://www.latimes.com/business/money/la-fi-mo-smith-wesson-gun-stocks-connecticut-20121217,0,1338151.story

[struggle4progress]

1. Time to choose: nice high gun stock prices, or living children?

[Remmah2]

9. Gun stock?

Wood or synthetic furniture.

You made a funny.

[lbrtbell]

18. Many children are still living thanks to guns

Ask the kids who survived the Clakamas Mall shooting, thanks to someone who shot the killer.

[struggle4progress]

19. Clakamas Mall shooter reportedly shot himself. I guess you can paint that as a triumph of

armed citizenry acting to save the community from further harm, but I expect most people will send raspberries in your direction for that sort of claim

[The Wielding Truth]

2. It's about time they stop profiting from fear-mongering.

[elleng]

3. Good. As they should.

[Hoyt]

4. That's good to hear, although it pales in comparison to what their products have done to society.

[Frenkstap]

5. Spam deleted by hlthe2b (MIR Team)

[CTyankee]

6. Mr. Smith and Mr. Wesson were CT natives and made their guns here.

In my city, New Haven, we still have the old Winchester Repeating Arms building where those guns were made for the Civil War. Samuel Colt developed his handgun in CT.

The state was once called "an arsenal for democracy." See the history here: http://en.wikipedia.org/wiki/History_of_Connecticut_industry

[tridim]

7. Is this new? Usually gun/ammo sales rise sharply after mass murders in this crazy country.

[hibbing]

12. I hear ya

Hey,
Yeah, I'm surprised their stock did not go up considering all the people who will now go stockpile.

Peace

[pitbullgirl1965]

8. Good!

Next I hope the NRA loses membership in droves.

[onehandle]

10. So have the stock prices of Anvil makers.

Both items belong in a past century.

[PavePusher]

16. Blacksmiths everywhere are laughing at you.

Ignorance is no excuse.

[Zoeisright]

11. Good. Hope they go broke.

[rhett o rick]

13. The price of their stock has nothing to do with their business. I bet their sales will skyrocket.

And as far as their stock prices dropping, the speculators love that.

[SoapBox]

14. Save a life...Kill a gun.

...yesterday on DU.

[ellisonz]

15. Sadly, this is after a decade of massive growth for the gun cabal.

[pop topcan]

17. And after hours trading it's up 8+ percent. In any case, it's a few cents a share.

Many people own stock in the company, are you holding THEM responsible for the Sandy Hook tragedy?
I sure hope nobody is that stupid.
http://finance.yahoo.com/q?s=SWHC&ql=1

What would you like for them to say?...if they express remorse, a lot of people would be supercynical and give them grief for daring to do so. Same thing goes for the NRA, nothing they could possibly do would satisfy the hyperhysterical antigun idealogues.

[dmallind]

20. Damn. That means they're only up 98.5% for the year.

[SkyDaddy7]

21. They won't remain down for long!

As soon as the numbers come in for guns sold since the shooting & it becomes clear that tougher gun laws is not at all politically possible until Congress changes, mainly the House, then my guess is the gun stocks will recover there short term losses & then some...They always do. Because I doubt the House will be back in Democrat hands for a long time due to how the districts are formatted. Who knows I could be wrong but considering how Democrats typically do not show up for mid term elections like Republicans do combined with the way districts were redrawn to insure a GOP stronghold on the House I doubt we will see meaningful gun control laws for years.