Shares of the top two U.S. gun manufacturers Smith & Wesson and Sturm Ruger exploded early Wednesday morning, reports Investor’s Business Daily.
“The re-election of President Obama should drive political firearm sales,” said Benchmark & Co analyst Mike Greene.
Obama has said he supports the right to bear arms in the past, but in the second presidential debate he said he would support an assault weapons ban if re-elected.
“The administration has not really lifted a finger in the last four years to tighten gun control legislation,” said Wedbush Securities analyst Rommel Dionisio. “There is a consumer fear that Obama will tighten gun control legislation, but whether or not they will do it this time I don’t know.”
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