NRA Dragging Gun Stocks Lower
On the heels of news that the National Rifle Association lost more than half a billion dollars of income in 2017, stocks for gun companies are falling.
Sturm, Ruger & Company, the largest gun manufacturer in the US, fell 1.3% Tuesday. American Outdoor Brand Corporation, which owns the Smith & Wesson brand, saw a decline of 2.9%, and Vista Outdoor, which makes ammunition and rifle-scopes was down 3.9%. Olin, an ammunition manufacturer, however, saw a 0.6% increase.
These companies have typically seen a bump in stock after mass shootings, including a February shooting at a Parkland, Fla. high school that left 17 dead and a shooting at a concert venue in Las Vegas in October 2017 that left more than 50 dead.
But many are also reporting a drop in sales during the Trump presidency.
Though many Republican politicians – including the president-are still in the pocket of the NRA – its influence in the political sphere hinges on the organizations overwhelming amount of donations to buy influence over the majority party. With less donations and falling stocks, their financial foothold may be beginning to weaken.
It’s a promising start, but the efforts to mobilize and save lives aren’t weakening.