One industry is gonna miss BHO...the gun salesman of the year...this is a good opportunity to buy. Complete article and graphs/charts at link below,
Crashing "Post-Obama Era" Gun Sales Lead To Remington Mass Layoffs
Tyler Durden's picture
by Tyler Durden
ZERO HEDGE
Mar 14, 2017 12:46 PM
As we noted last summer, the Obama administration’s constant gun control threats did little more than flood American homes with more guns as people looked to stockpile weapons ahead of anticipated new regulations. In fact, both of Obama's elections resulted in massive and unprecedented spikes in gun sales.
Meanwhile, Obama's presidency was a boon for the gun manufacturers whose revenue, profitability and stocks all soared during his presidency.
But while the constant threat of new regulations under Obama resulted in a massive full forward of gun demand and pushed gun stocks to all-time highs, the election of Trump, and thus the removal of those threats for at least the next 4-8 years, is having exactly the opposite effect.
If fact, Remington Outdoor just announced layoffs of 120 people at their upstate New York manufacturing facility due to sinking gun demand in the Trump era. Per the Wall Street Journal:
Meanwhile, other firearms makers, including American Outdoor Brands, formerly known as Smith & Wesson, say demand for weapons, particularly handguns, has been ebbing since Trump's election. Earlier this month the company posted disappointing sales and higher inventories and admitted to investors on their quarterly earnings call that business had slowed...all of which sent the stock into a downward spiral.
Meanwhile, Wedbush equity analyst James Hardiman expects FBI background checks, a good indicator of gun sales, to be down 10-15% in 2017.
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http://www.zerohedge.com/news/2017-0...cturing-facili