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Gun Industry Not Slowing Down in Face of Ban Proposal
Posted By admin On January 17, 2013 @ 5:51 am In Money Watch | Comments Disabled
Jan 17, 2013
Gun stocks rose Wednesday, even as President Obama called on Congress to pass an assault weapon ban.
The stock prices for Smith & Wesson Holding Co. and Sturm, Ruger & Co. rose about 4%. The stock for Sturm, Ruger has risen 13% in the month since the shooting at a Newtown, Conn., elementary school that left 20 children and six educators dead.
Retailers that specialize in guns have also done well. The stock price for Cabela’s surged 6% on Wednesday and has gained 20% over the last month. Dick’s Sporting Goods notched up slightly, and has gained 6% over the month.
Obama issued the call for the assault ban as part of a broad response to the Newtown shooting.
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