Smith & Wesson Leads Declines Amid Gun-Control Speculation
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Smith & Wesson Holding Corp. led a decline in stocks of firearms makers amid speculation President Barack Obama will renew a ban on assault weapons following last week’s elementary school shooting that left 20 children dead.
Smith & Wesson dropped 5.2 percent to $8.66 at the close in New York, extending its slide to 9.3 percent over two days after the Dec. 14 massacre. Sturm Ruger & Co. has fallen 7.8 percent during the period, while Cabela’s Inc., an outdoor-gear retailer that sells guns and ammunition, slumped 7.3 percent.