Obama Vows to Make Gun Industry Investors Rich Before Leaving Office

By Bob Owens

President Barack Obama, fresh off an banner year in 2015 that saw him sell in excess of 25 million firearms, isn’t resting on his laurels.

His raft of newly-announced executive orders have firearms industry stocks soaring just days into 2016:

Gun owners may not like it when President Obama talks about guns. But gun investors certainty do.

Whenever the president discusses the need for tougher gun control laws, gun stocks go up. A lot.

It happened in the wake of the shootings at Sandy Hook Elementary school in Newtown, Connecticut more than three years ago.

And it happened again on Monday following reports that Obama would unveil executive actions on Tuesday that call for expanded background checks among other things.

On what turned out to be an ugly day for the overall market, shares of Smith & Wesson (SWHC) rose 6%. Sturm Ruger (RGR) popped 3%.

Ammunition makers Olin (OLN) (which owns Winchester) and Vista Outdoor (VSTO) rallied too.

And shares of sporting goods retailer Cabela’s (CAB), which generates nearly half of its sales from hunting equipment, held up relatively well amidst the broader market turmoil. The stock finished the day slightly higher.

Most of these gun …Read the Rest

Source:: Bearing Arms