By: Cole Cronin
When you think of the news in today’s world you can’t think of it without guns coming to mind. Recent events of the shootings in Las Vegas and Florida have shaken up many things in the gun industry and in the business world as a whole.
Gun makers are coming off some of the highest stock prices in recent history. The market for guns is fueled by certain factors. One of them being, the possibility of guns being banned. This makes people go on buying sprees. While President Obama was in office and Hillary Clinton campaigned for President, gun purchases drastically increased. Now with President Trump, people feel that the gun rights are more protected so they aren’t buying guns as quickly.
The recent tragic events that have occurred in this country are sparking a time for immense change in many different industries, but specifically the gun industry. For the past year there has been a steady decline in some of the top gun making company’s stock. According to marketwatch.com American Outdoor Brand has fallen to $9.85 which is a 25% decline in the month of February alone. The stock has not been this low in five years. American Outdoor brand is the group that owns Smith &Wesson, one of the largest gun manufacturers in the world.
After every mass shooting that has occurred there is going to be a lot of talk about stricter gun laws. Naturally this makes people scared that their right to purchase guns is going to be taken away. This usually leads to a spike in sales. After the mass shooting in Florida there is expected to be a very large spike. This industry is constantly being fueled by the arguments of people who are pro-gun and anti-gun.
Behind every large company there is a person calling the shots. Every CEO wants to make their company look better than their competitors. After the shooting in Parkland Florida the people of the United States have seem to have come together to try to make a real change in gun laws.
These huge companies are the ones fueling the fire. According to Fortune.com Dicks Sporting Goods CEO, Edward Stack, has made significant changes to his company’s gun selection. Dicks is the number one sporting goods retailer in the country. Stack has determined that Dicks Sporting Goods will stop selling assault style weapons. Assault style weapons are the weapon of choice in every mass shooting to date. Dicks also will be raising the minimum age to purchase a gun to 21. Walmart is following Dicks Sporting Goods and also raising the minimum age to own a gun to 21.
This is a huge step in the right direction but if America wants to make a true change we need everyone to get on board.
The United States is at a tipping point when it comes to guns. There are people on both sides of the matter. Businesses are faced with a tough decision on whether to change their views on guns or keep them the same. The public holds the future of many gun companies in their hands. Only time will tell what the fate of these companies will be.