Last week’s tragedy in San Bernardino was an act of terrorism that somehow got spun into a gun control issue (as if jihadis have never heard of bombs before).
Nonetheless, anytime the issue of gun control makes national headlines, demand for guns actually goes up. This phenomenon first occurred during Obama’s first presidential victory, and also during his re-election.
Yesterday I posted on twitter that I had purchased SWHC around $20 for a trade and I made good on the promise and sold 80% of the position ahead of earnings.
Even without the recent furor, gun sales in the recent quarter were quite healthy.
Quarterly net sales were $143.2 million, an increase of 32.1% over the second quarter last year. Firearms division net sales of $124.9 million increased by 15.2% over the comparable quarter last year.
I expect to repurchase shares over the next few days because according to my facebook feed, people aren’t done talking about gun control.
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