If the performance of these gunmaker stocks is any indication, President Barack Obama might be the greatest gun salesman in American history.
Since Obama took office in January of 2009, stock prices for publicly traded American gun manufacturers are booming. There are two publicly traded gun manufacturers based in the U.S., and their stock prices have gone through the roof since Obama became president.
Smith & Wesson’s stock price has increased nearly 700 percent since January 20, 2009, according to a list of historical daily prices provided by Yahoo! Finance. Over that same period of time, the overall stock market, as measured by the S&P 500, increased by approximately 150 percent. When Obama took office, the price of one share of Smith & Wesson stock was $2.57. As of Monday morning, that same share was worth nearly $20.
The stock price for Ruger, which is based in Southport, Connecticut, increased even more than the price of Smith & Wesson shares. Since January 20, 2009, Ruger’s share price has increased by an eye-popping 800 percent. Monday’s share price of nearly $57 is more than nine times higher than Ruger’s opening share price of $6.25 on the day of Obama’s 2009 inauguration.
A weekend editorial by the New York Times calling for widespread gun confiscation, as well as a nationwide address on gun control by Obama on Sunday night, appeared to accomplish little more than boosting the values of the two American gun manufacturers. As of Monday morning, Ruger’s share price was up 4 percent compared to Friday’s closing price, while Smith & Wesson’s share price increased by more than 5 percent since Friday.
Both gun manufacturers are now valued at roughly one billion dollars. The Massachusetts-based Smith & Wesson has more than 1,700 full-time employees. Ruger employs nearly 1,900 people, according to Forbes.