Smith & Wesson Slumps as Fading of Gun Control Push Slows Sales
This article is for subscribers only.
Gun enthusiasts aren’t as worried about the U.S. government as they once were, and that’s bad news for Smith & Wesson Holding Corp.
Shares of the second-largest publicly traded firearms maker tumbled the most in two years today after the company cut its forecasts amid a drop in sales of assault-style weapons, known as modern sporting rifles or “black rifles.” While enthusiasts had stockpiled guns after a 2012 Connecticut school massacre over fear of stricter federal laws, political support for an overhaul has waned.