CNN/Money reports today that the rush in assault weapons sales last year has tapered, along with the with the threat of a ban on the type of gun used in the Aurora, Colorado movie theater and Sandy Hook Elementary School shootings.
Many rifle manufacturers ramped up production last year in response to the sales spike, said Rommel Dionisio, industry analyst for Wedbush Securities. But demand has since stagnated, he said, and there’s now a glut of gun inventory,
“I believe what happened is that everybody who wanted to buy one did,” said Fernwood Firearms’ John Kielbasa. “Now it’s a buyer’s market.”
An inventory glut, combined with a decrease in sales (estimated by background checks performed by licensed firearms dealers) could spell decline for the industry, and those holding shares in the publicly traded companies.
Yesterday, we shared that a research firm had downgraded shares of Olin. Check your investments for these companies: Sturm Ruger (RGR), Smith & Wesson (SWHC), and Olin (OLN).
Divestment is a way to pressure the industry that obstructs common sense gun reform like the assault weapons ban and expanded background checks. It worked for South African anti-apartheid activists and it can work for gun violence prevention, too.
Sign up for our emails to stay up to date as we roll out new campaigns. Fill in your name and email address on this page.