Gun manufacturers should hope for a wave of Democrats this fall
No, we’re not talking about the U.S. president’s polling numbers, but his impact on gun sales. Strangely, when Americans aren’t worried Democrats are going to take their weapons, they stop stocking up and gun makers run into trouble. Remington, whose Bushmaster rifle was used in the 2012 Sandy Hook massacre in Newtown, Connecticut, filed for bankruptcy protection in February. And sales at other top gun makers—including Colt’s Manufacturing, American Outdoor Brands (parent of Smith & Wesson) and Sturm, Ruger & Co.—are collapsing. Remington, which was acquired by Cerberus Capital Management in 2007, can’t blame all of its woes on Donald Trump. The 200-year-old gun maker is also being sued by the parents of the 20 children killed at Sandy Hook, and the case is still before the courts. Cerberus has tried to off-load its purchase, but so far there have been no takers. In the meantime, Remington is hoping to shed roughly $700 million (U.S.) in debt—and likely praying the Democrats win big in this year’s midterm elections.
Remington may never have known Adam Lanza, but they had been courting him for years.
— Josh Koskoff, attorney for families of the Sandy Hook massacre
Three of America’s top gun makers have
seen their profits plunge
During the Obama years
(2008 to 2017)
They call it the Trump slump.
— Robert Spitzer,a professor at the State University of New York and author of ve books on rearms, on the decrease in gun sales
That’s more than $17 billion (U.S.) spread over 2,000 plus funds, according to Goodbye Gun Stocks, a non-profit group. Retailers that sell firearms include Walmart, Cabela’s and Dick’s Sporting Goods (although Walmart and Dick’s no longer sell assault-style rifles).
Ontario and Quebec have the most licences Canadian gun ownership is on the rise
Number of restricted firearms registered – 1,000,000
Individual firearm Licences (2016)
Humans tend to assess risk in a way that’s not scienti c but emotional. We have a strong bias that causes us to pay too much attention to low- probability risks.
— Sara Gorman, co-author of Denying to the Grave, on why tighter gun regulation makes Americans buy more guns
22% to 31% of Americans say they have at least one gun but 3% of the U.S. population
owns an average of 17 guns, with an estimated 7.7 million in possesion of 8 to 140
I suspect that if the Democrats make a resurgence this November, gun company stocks will come roaring back with them.
— Richard Feldman, president of the Independent Firearm Owners Association