By : President did more than just trigger his base when he spoke at the NRA’s annual meeting Friday. He also fired up gun stocks when he dropped the surprise announcement that his administration plans to withdraw the U.S. signature from the U.N. Arms Trade Treaty.
Most of the major gun sellers saw their stock prices move higher following the president’s speech.
Trump Rails at Anti-Gun Democrats, Yanks U.S. from U.N. Arms Treaty During NRA Speech
“Under my Administration, we will never surrender American sovereignty to anyone. We will never allow foreign bureaucrats to trample on your Second Amendment freedoms. And that is why my Administration will never ratify the UN Arms Trade Treaty.”
— The White House (@WhiteHouse)
Speaking to the NRA faithful, warned that far-left Democrats are hell-bent on coming after their . He said that they won’t take them under his watch but that the court system could be a problem.
In referring to the Ninth Circuit Court of Appeals, which has ruled against his policies numerous times, said:
“One of the greatest threats to the Second Amendment are activist judges. We’re stuck with activist judges who seek to rewrite our Constitution to force their own radical views onto our country.”
Elsewhere during the speech, yanked the United States out of the , which regulates weapons sales. The U.S. had signed the treaty during the Obama administration, but Congress had yet to ratify the controversial agreement.
“We will never surrender America’s sovereignty to an unelected, unaccountable, global bureaucracy,” said.
Gun Stocks Rally as Wider Market Stagnates
The majority of gun stocks rallied following ’s NRA speech, and as a category firearms manufacturers outperformed the wider stock market.
Sturm, Ruger & Co. (RGR) shares jumped 1.43% to $57.41.
Ruger (RGR) stock rose 1.43% to $57.36. | Source: Yahoo Finance
American Outdoor Brands Corp (AOBC) – formerly Smith & Wesson – saw its stock price climb 1.37% to $10.
American Outdoor Brands (AOBC) stock rose 1.37% to $10. | Source: Yahoo Finance
Vista Outdoor Inc. – which currently owns Savage Arms – and ammunition manufacturer National Presto Industries also recorded moderate gains.
Gun Debate Takes Center Stage in 2020 Election
’s NRA speech isn’t the only factor that could push gun stocks higher over the medium-term.
Firearms, weapons, and ammunition companies have typically seen their stock prices rise whenever there is a concern that gun rights will be limited.
While helped boost share prices with his speech today, political campaign rhetoric could cause them to move even higher.
For example, presidential candidate has vowed to crack down on if elected president.
“Upon being elected, I will give the United States Congress 100 days to get their act together and have the courage to pass reasonable gun safety laws and if they fail to do it, then I will take executive action.”
And some Democrats her as too pro-gun.
Published at Fri, 26 Apr 2019 20:04:39 +0000
