gun sales

Gun industry thrives in face of ban proposal

by Aaron Smith, CNN Money  |  published on January 18, 2013

The stock prices for Smith & Wesson Holding Co. (SWHC) and Sturm, Ruger & Co. (RGR) rose about 4%. The stock for Sturm, Ruger has risen 13% in the month since the shooting at a Newtown, Conn., elementary school that left 20 children and six educators dead.

Retailers that specialize in guns have also done well. The stock price for Cabela’s (CAB) surged 6% on Wednesday and has gained 20% over the last month. Dick’s Sporting Goods (DKS, Fortune 500) notched up slightly, and has gained 6% over the month.

Obama issued the call for the assault ban as part of a broad response to the Newtown shooting.

“Congress should restore the ban on military style assault weapons and a 10-round limit for magazines,” the president said. Obama was referring to a 10-year ban that expired in 2004, which limited the capacity of magazines and restricted military-style features on semiautomatic rifles.

But the specter of a potential ban in the wake of mass shootings around the country has prompted gun enthusiasts to stock up on the weapons that may some day be denied to them.

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