This morning, Fortune ran a story outlining their reasons “Why Gun Shops Probably Won’t Set a Black Friday Sales Record“, but the article ends with the following quote:
“Some categories might be light,” said Kellie Weeks, owner of Georgia Gun Store in Gainesville, Georgia. “But in general, sales through Black Friday and Christmas, I still think will be very strong.”
The New York Post published the article “Trump Win Sinks Gun Stocks and Gun Shop Sales” this morning as well, beginning with the snide remark, “owners of Smith & Wesson stock who voted for Donald Trump must feel like they shot themselves in the foot”.
The article even attempts to highlight how gun store owners are feeling pain from the fallout by sharing a personal experience from Dave Larsen, sales manager of Doug’s Shoot’n Sports in Salt Lake City, UT.
“I did have one gentleman order a gun from me on Tuesday, and then after the election results came in he called me and said, ‘Dave, let’s cancel that order,’” Larsen said. “I asked him point blank, ‘Is this because Donald won?’ And he said, ‘Yeah, kind of.’ ”
But Larsen said the customer actually decided to keep the gun, so what’s the point of sharing that story?
Immediately following the Presidential Election, CNN Money ran an article titled “Gun Stocks are Plunging Since Trump Won“. Mind you, it was just 48 hours after Donald Trump was declared president-elect when CNN wistfully asked:
What happened? Trump was endorsed by the National Rifle Association and was the clear favorite of white, rural, gun-loving America.
The attempt to insinuate Trump has already had a negative impact on the firearms industry stems from the NRA’s endorsement of him and the fact that gun owners overwhelmingly turned out to the polls to vote against Clinton and defeat her plan to push gun control.
Before the election, “there was a widespread expectation that Hillary would win and some gun retailers began to stock up, expecting strong demand surge from the prospect of tightening gun control under a Hillary Clinton administration,” said Rommel Dionisio, a gun industry analyst for Wunderlich Securites.
“Obviously, that’s not going to happen,” he said.
The bottom line is, the National Rifle Association, National Shooting Sports Foundation, firearms manufacturers and gun owners still won, no matter what stocks and/or sales do in the next few months or even years. Hillary’s defeat was a clear indication that America isn’t interested in gun control and Trump’s Supreme Court Judicial Appointees should ensure our Second Amendment rights will be protected for decades to come.
Offering a more rational take on the market, Larry Keane, senior vice president and general counsel to the National Shooting Sports Foundation, said “Our industry will continue to grow, but in a more normalized market with a more stable political environment.”
“In the face of threats against their constitutional freedoms, NRA members and Second Amendment supporters rallied to elect a pro-gun president,” said NRA-ILA’s Executive Director Chris Cox following the election. “Voters sent a loud and clear message that our gun rights are not for sale.”
Keane also expects the firearms industry will also experience “fewer spikes in demand that occur when the law abiding consumer perceives that anti-gun politicians will enact restrictions on their ability to purchase the products they want to buy.”
“Typically the fear of such legislation prompts a near term surge in consumer demand for those types of firearms, as consumers flock to stores to stock up on such firearms before the ban is potentially enacted,” Wunderlich Securities Analyst Rommel Dionisio said in an earlier interview.
“Naturally with the Trump victory, such consumer fears would subside, so there will likely be no near-term demand surge any time soon for firearms,” Dionisio added.
So calm down, main stream media – we’ll happily take a plateau or even drop in gun sales and manufacturers’ stocks if it means we’ve avoided the wrath of Hillary Clinton. Despite how you try to spin it, we know it’s a good thing.