Why Sturm, Ruger Shares Fell in September
Investors in firearms manufacturer Sturm, Ruger (NYSE: RGR) were enjoying a terrific year heading into late summer, with the shares doubling from March lows. But the momentum has slowed. The shares fell 13.7% in September, according to data provided by S&P Global Market Intelligence, on worries the once red-hot firearms market is beginning to cool.
Historically, presidential election years have meant strong firearm demand, and 2020 has continued this trend. June and July saw record numbers of background checks performed by the National Instant Criminal Background Check System (NICS), a required step in new gun purchases.
Image source: Getty Images.
Source Fool.com
