By Tom Knighton
Since the Democrats failed to take both chambers of Congress, it’s unlikely we’ll see any gun control legislation pass. The House will probably pass some measures, including a new Assault Weapon Ban, but little else will happen as the legislation will die in the Senate.
However, the midterm results did have some impact on the gun industry, apparently. It seems that stock prices dipped for gun manufacturers.
Gun stocks fell slightly on Wednesday after midterm elections divided power in Congress with Democrats winning back the House and Republicans strengthening their grip in the Senate.
The new dynamic means the risk of congressional gridlock is higher, which will help preserve the legislative status quo on gun control.
Shares of American Outdoor Brands Corporation, parent company of Smith & Wesson, were down slightly Wednesday morning. Sturm, Ruger & Co., which sells the Ruger rifles and handguns, was down 1.5 percent. Shares of Utah-based Vista Outdoor, which owns several gun-related brands, were flat.
Shares of both AOBC and Vista Outdoor had briefly rallied earlier Wednesday morning.
So what does this mean?
Well, damned if I know. My guess is that people sold stocks because they expected the midterms …Read the Rest
Source:: Bearing Arms