As so many readers reviewed my review of The Big Short, which featured investments, I thought a good follow-up post would focus on the stock market.
Obama’s “Theater of the Absurd” gun control press conference played well on Wall Street, as stocks of gun makers soared in trading yesterday.
Smith and Wesson stocks jumped over 11% in trading.
Earnings per share is estimated to come in at $0.39 to $0.41, which is way above the previous estimate of $0.27 to $0.29. Analysts were expecting only $0.29.
According to a press release, “the sell-through rate of its products at distribution has been stronger than originally anticipated, resulting in reduced distributor inventories of its firearms.”
In other words, people are buying guns faster than merchants can restock the shelves.
Sturm, Ruger & Co. is challenging its highs.
by Leslie Eastman