Undeterred by gun-control discussions, Ruger and Smith & Wesson both finished up more than three percent on New Year’s Eve, the final day of trading for 2012.
If government officials have difficulty deciding how much money to spend, how many taxes to increase and how to fund the remaining deficit, perhaps they will be indecisive about gun control, too.
Whatever the case may be, firearms manufacturers Sturm, Ruger Company (NYSE:RGR) and Smith & Wesson Holding Corporation (NASDAQ:SWHC) were among the biggest money-makers on Wall Street in 2012.
Over the past year, Smith & Wesson stock has increased 94 percent, while Ruger stock has increased 35 percent, plus dividends.
On Jan. 3, U.S. Sen. Dianne Feinstein (D-Calif.) will introduce legislation dramatically curtailing the sale of certain types of guns.
Feinstein said the legislation "stops the sale, transfer, importation and manufacturing of more than 100 specifically-named firearms as well as certain semiautomatic rifles, handguns and shotguns that can accept a detachable magazine and semiautomatic rifles and handguns with a fixed magazine that can accept more than 10 rounds;" and "stops the sale, transfer, importation and manufacturing of large-capacity ammunition feeding devices (magazines, strips and drums) capable of accepting more than 10 rounds."
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