Shares of gun makers soar as Obama tightens firearm rules

Smith & Wesson (SWHC) jumped more than 11% on Tuesday, and Sturm, Ruger & Co. RGR, +7.18% climbed 8% at the open.

The ATF will also finalize a rule making clear that background checks won’t be avoided by buying guns through a trust or corporation.

Wallace said he was disappointed with Obama’s executive actions. One of the measures clarifies an existing law that requires nearly anyone who sells guns for a living to register as a firearms dealer and conduct background checks on clients. Gun dealers will be required to report any and all missing firearms, and $500 million will be set aside to ensure firearms do not fall into the hands of individuals with mental illness. In another tweet, the NRA noted that gun-crime prosecutions “are way down”.

Some local gun rights advocates say President Obama’s new executive actions on firearms likely won’t have an effect in MA and may create a “false sense of security”.

“We all share the goal of reducing the intentional misuse of guns and enhancing the safety of our communities”, the NSSF said in a statement. Smith & Wesson confirmed in a press release that demand has shot through the roof since Obama took office in 2009.

The NSSF agreed that more resources should be devoted to the FBI’s National Instant Criminal Background Check System (NICS), which has been the subject of complaints from gun owners and merchants for slow response times.

Smith & Wesson has said over the years that the holiday shopping season is important for it, as it is for many manufacturers of consumer goods given as gifts.

Smith & Wesson’s shares have been shooting up for the second day in row. “Consumers are fearful of a certain class of firearms being restricted or legislated against”.

During December, the adjusted background checks were up 38% from the same month in 2014.

The number of background checks on potential buyers – a guide to future sales – has also risen.

The handguns maker said its revenue for this quarter, which will end January 31, might be as much as $180 million, an increase of 16% from what the company forecasted during December.