There was one group of stocks doing well because of President Obama's win: gunmakers. Springfield's Smith & Wesson Holding Corp. had its biggest jump in months, rallying 10 percent to close the day at $10.37. Also doing well was Sturm Ruger & Co, which rose nearly 7 percent to $47.68. Both companies manufacture handguns and semiautomatic weapons. After years of failing to take on gun control, Obama signaled last month he would consider banning civilian purchases of military-style rifles.
"While we maintain our view that these political sales do not represent the entirety of recent firearms sales growth, we expect that with President Obama's re-election these sales could continue well into his second term," Mike Greene, analyst at Benchmark, wrote in a note to clients.
Gun owners have shown unprecedented concern that Obama is coming for their guns, with his election in 2008 triggering a run on gun sales. The National Rifle Association has played its own part in stoking fears, circulating a mailer headlined "10 reasons why Obama is bad news for the Second Amendment."
"We found no evidence of an Obama admission anything like the NRA suggests," wrote the watchdog Politifact.
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