Mention of Gun Control Drives Sturm, Ruger & Co.'s Sales Upward
YCHARTS.com submits: Talk of gun control, one might assume, is not good for companies that sell guns. But here’s what really happens to gun sales when the debate over gun laws heats up: That’s a chart for Sturm, Ruger & Co. Inc. (RGR), which derives 98% of its revenues from sales of firearms. The big spike in sales started just as it was becoming clear that Barack Obama – a gun control fanatic, according to the industry lobby groups — would actually take office. That revelation led a whole a lot of people to line up for gun permits. Even enacted gun control has done nothing to dampen gun sales at Sturm Ruger. The company’s revenues rose in the year after Congress passed a five-day waiting period for gun buyers in 1994, and again after the criminal background check went into effect in 1998. Its products were exempted from assault weapons bans because it sold those only to law enforcement. Gun control is again hot news, as politicians try to suss out politically correct responses to the January 8 shooting in Tucson that killed six and wounded 14 others. New York City Mayor Governor Michael Bloomberg, apparently upset that such a rampage with a legal weapon had not yet set off serious gun control efforts at the federal level, tried to heat up the debate on Monday with the shocking news that he was able to buy a bunch of guns illegally at a gun show in Arizona. None of this hasComplete Story »
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