The Obama years were a great time for the gun business.
But since the election of Donald Trump as president and the resulting decline in fears over increased gun regulation, sales in the industry have plummeted.
On Thursday, shares of gunmaker Sturm, Ruger & Co. (RGR) were down as much as 9% after reporting results Wednesday afternoon that missed expectations. In the second quarter, sales for the company were down 22% against the same period last year while profits fell 53%.
In its earnings release, Sturm, Ruger cited, among other factors weighing on results, “Decreased overall consumer demand in 2017 due to stronger-than-normal demand during most of 2016, likely bolstered by the political campaigns for the November 2016 elections.”
My favorite line in the article... "Gunmakers celebrate when Democrats are in charge"