Under the gun

[larrymeyer]

http://hosted.ap.org/dynamic/stories...MPLATE=DEFAULT

Under the gun
Aug. 18, 2009


U.S. handgun sales, which surged after Barack Obama won the presidential election, appear to be cooling off. And that’s bad news for gun makers’ stocks.

The number of background checks conducted by the FBI on potential gun buyers was 8 percent higher in July than it was in July 2008, marking a continued decline since April when the FBI recorded a 30 percent year-over-year increase in the number of background checks.

May checks were up 18 percent and June’s rose 15 percent. Analysts expect August checks to be up only 7 percent.

“We think the statistics indicate that the market is cooling off and that Sturm Ruger & Co.’s sales growth will cool as well, probably starting in the fourth quarter when it faces very tough comparisons versus a year ago, when sales rose 72 percent,” said CL King analyst Jim Barrett.

Besides Sturm Ruger, Smith & Wesson also experienced a spike in handgun demand after Obama was elected.

[fingers80002]

Maybe my Para will get here soon..........