President Obama’s re-election has sent Americans running to the gun stores. Sales of firearms and ammunition are way up in reaction to Mr. Obama saying during the debates he wants to ban everything from “cheap handguns” to common hunting rifles with scary-looking features.
The two publicly traded U.S. gunmakers have seen investors flock to their stock since Nov. 6. Sturm, Ruger & Co. and Smith & Wesson are both up over 15 percent, while the broader markets were down over the same period.Gun dealers are seeing the same rush at their counters.
In the past week, gun sales surged 70 percent at Sprague Sports in Yuma, Ariz., evenly split between handguns and long guns. “Since the election, it’s been very, very busy — stronger than this same time frame in ‘08,” said owner Richard Sprague, who runs the 56-year-old family business. “People don’t want to wait and see selection and availability if there are more government regulations.”
Gun sales at H & H Shooting Sports Complex in Oklahoma City, Okla., have risen 105 percent in the past week, with handguns outselling long guns 3 to 1. The new guns are being put to use. Miles Hall, founder of the 32-year-old company, said he finds his 55-position shooting range is now at capacity 30 minutes after the 9 a.m. opening bell.
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