The gun business is booming. The question is, why?Read the rest here.
Smith & Wesson stock was zooming Friday, thanks to a stellar earnings report. The firearms maker also boosted its outlook for the rest of the year. Because of the strong business, its backlog of orders more than doubled from the same quarter last year, the company is concentrating on boosting production and building inventory.
“We are underserving the market at this moment, we all know that, and that's a great opportunity going forward for us,” CEO James Debney said in a conference call with analysts.
It's an election year with a strong chance a Democrat will be reelected as president. That always gets the far right in a frenzy over gun grabbers. Never mind that with the exception of a few really hardcore northeastern liberals, the Democratic Party has long since abandoned gun control as an issue. Not that there is anything wrong with being armed. Just don't let the PR machine for the NRA and the gun manufacturers snow you into buying a gun because next year you won't be able to.