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Gunmakers' stocks lose ground

12:37 PM, Dec 17, 2012   |    comments
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Gunmakers' stocks continue to languish in the wake of the shooting at the Sandy Hook Elementary school, as talk of gun control heats up.

Shares of Smith & Wesson (SWHC) fell $0.29, or 3%, to $8.84 and Sturm Ruger (RGR) lost $1.13, or 2.48%, to $44.44 early Monday.

The shooting, which occurred on Dec. 14, 2012, has turned into a negative event for the two largest publicly-traded gun stocks in the U.S.

Since the day of the shooting, one of the deadliest at an elementary school, shares of Smith & Wesson and Sturm Ruger are down 7% and 6.8% respectively.

Investors' fear is that the event might not only reopen discussion of gun control but also snuff out what's been a period of strong weapons sales.

Gun sales have been robust the past year. Sales at Smith & Wesson are up 37% the past 12 months, compared with the previous 12-month period, says S&P Capital IQ. And sales growth has been even stronger at Sturm, Ruger, which has seen its revenue jump 42% on that same basis.

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