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Gun Manufacturer Stocks Jump 10% Day After Obama's Reelection

Gun Manufacturer Stocks Jump 10% Day After Obama's Reelection

Although the Dow Jones Industrial Average tanked after news of President Obama’s re-election, stock prices for gun manufacturers skyrocketed that same day.

Firearms maker Smith & Wesson Holding Corp. surged 10.8% to $10.48 a share in morning trading, more than double its price at the beginning of the year.

Sturm, Ruger & Co. Inc. got a 6.4% boost to $47.48 a share, a 39% increase from early January.

The impetus? Gun sales are expected to boom now that Obama, who said during one presidential debate that he’s open to reintroducing an expired ban on civilian purchases of assault weapons, is returning to office.

Gun owners fear that the Obama administration will push for significant restrictions on gun ownership in his second term. Many plan on stocking up between now and his second term inauguration in January, 2013.

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