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BREAKING :
SMITH & WESSON BRANDS (NASDAQ:SWBI) RECENTLY SPUN OFF ITS OUTDOOR RECREATION BUSINESS TO FOCUS ON ITS FIREARMS BUSINESS. BECAUSE OF THAT, ONE WALL STREET ANALYST SAYS THE GUNMAKER IS PERFECTLY POISED TO GARNER SIGNIFICANT MOMENTUM. AEGIS ANALYST ROMMEL DIONISIO INITIATED COVERAGE OF SMITH & WESSON WITH A BUY RATING, AND SET A TARGET PRICE FOR ITS STOCK AT $23 PER SHARE, SOME 48% ABOVE ITS CLOSE ON WEDNESDAY.I WAS 35 YEARS OLD WHEN I WAS INVITED TO A GUN RANGE. EVERY TIME I PULLED THE TRIGGER, I FOUND MYSELF JUMPING AND BECOMING EMOTIONAL. WITH EVERY SHOT, I FELT THE LIFE OF ANOTHER BLACK MAN BEING TAKEN. THAT DAY, I DECIDED I DIDN'T WANT TO HAVE ANYTHING TO DO WITH GUNS. FAST-FORWARD 15 YEARS. I'M SITTING IN MY CONDO ON CHICAGO'S SOUTH SIDE WHEN THE DOORBELL RINGS. IT'S THE PIZZA DELIVERY MAN. I BUZZ HIM INTO THE BUILDING. WITHIN SECONDS, I HEAR A COMMOTION AND SOMEONE YELLING, "DON'T SHOOT!" I QUICKLY LOCK MY DOOR AND LOOK OUT THE PEEPHOLE. A THIEF IS TRYING TO ROB THE PIZZA DELIVERY GUY. SEE STORY.IN A CASE CHALLENGING A HAWAII GUN RESTRICTION THAT COULD AFFECT STATE GUN LAWS ACROSS THE COUNTRY, AN ATTORNEY TOLD AN EN BANC NINTH CIRCUIT PANEL THURSDAY THAT THE SECOND AMENDMENT DOESN’T CATEGORICALLY BAR ALL RESTRICTIONS ON CARRYING GUNS OUTSIDE THE HOME. “HAWAII’S LAW IS SQUARELY ROOTED IN A LONG HISTORICAL TRADITION GOING BACK SEVEN CENTURIES,” SAID ATTORNEY NEAL KATYAL OF HOGAN LOVELLS IN WASHINGTON D.C., WHO REPRESENTS THE STATE AND COUNTY OF HAWAII. “THAT TRADITION SHOWS THAT CARRYING FIREARMS IN PUBLIC WITHOUT GOOD CAUSE HAS NEVER BEEN PART OF THE RIGHT TO KEEP AND BEAR ARMS.”THE 2020 PRESIDENTIAL ELECTION IS JUST SIX WEEKS AWAY, AND POLLSTERS AND PUNDITS ARE TURNING MORE ATTENTION TO THE HANDFUL OF SWING STATES THAT COULD ULTIMATELY DECIDE THE OUTCOME. WHILE THE ISSUE OF THE SECOND AMENDMENT HASN’T NECESSARILY BEEN AT THE FOREFRONT OF THIS CAMPAIGN CYCLE, THE NOTION OF GUN RIGHTS HAS BEEN A SIGNIFICANT FLASHPOINT THROUGHOUT THE TURMOIL AND UNCERTAINTY OF THIS YEAR – INDUCED BY THE ONGOING GLOBAL PANDEMIC AND NATIONAL SHUTDOWN AND FURTHER ENHANCED BY THE RIOTING AND UNREST THAT HAS PERMEATED MUCH OF THE COUNTRY IN RECENT MONTHS.MORE THAN 600 REMINGON ARMS WORKERS WERE FURLOUGHED THURSDAY. THEY LEARNED THROUGH AN EMAIL FROM REMINGTON OUTDOOR COMPANY CEO, KEN D'ARCY, WHEN THEY GOT TO WORK THURSDAY. THEY LEFT THE PLANT SHORTLY AFTER LEARNING OF THE PLANT-WIDE FURLOUGH, AT AROUND 12:30. MORE THAN 600 REMINGON ARMS WORKERS WERE FURLOUGHED THURSDAY. THEY LEARNED THROUGH AN EMAIL FROM REMINGTON OUTDOOR COMPANY CEO, KEN D'ARCY, WHEN THEY GOT TO WORK THURSDAY.

NH – INDUSTRY INSIDER – Demand for guns outpaces Sturm Ruger’s production

An unprecedented run on guns — partly due to Covid-19 — is so strong, that Sturm Ruger and Company can’t produce them fast enough, again partly due to Covid-19. “The incredible surge in demand outstripped our production capacity, ” said CEO Christopher Killoy, in an earnings call on Thursday. In his 30 years in the industry, “This is probably the strongest level of demand that I’ve seen,” including the surge preceding the assault weapons ban. The company, headquartered in Connecticut but with a major facility in Newport, NH, reported second quarter sales are $130 million, up by more than a quarter, with a net income of $18.6 million, a $1.05 a diluted share – triple the profits from the same quarter last year. But that was limited by production capacity. The number of units ordered nearly doubled in the first quarter and nearly tripled in the second. The thirst for firearms – despite the recent bankruptcy of Ruger’s rival Remington Arms Company (for the second time within a year) – is industry wide. Background checks are up 65% for the half, and 92% for the second quarter.  Ruger’s comparable increase (the estimate unit sell though) was a mere 47%. As a result, the inventories at Ruger and other brands “was largely depleted in the second quarter and remains at very low levels.” Killoy  attributed the “staggering increase” for “personal protection and home defense stemming from continuing Covid-19 pandemic; protests, demonstrations and civil unrest in many cities throughout the United States and lastly, the call by some for the reduction in funding and authority of various law enforcement organizations.” But that “lastly” was premature, because Killoy added another Covid-related reason when he asked about hunting sales, which also experienced a sharp increase in demand.  [full article]

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