The Arms Guide
  • Home
  • Concealed Carry
  • Firearms Training
  • Handguns
  • Rifles
  • Gun News
  • AR-15
  • Reloading Gear
  • Gun Safes

Gun stocks fall and prison stocks jump after Trump win

arrested-in-handcuffs

November 11, 2016 by The Arms Guide Guest Writer Leave a Comment

By Caitlin Huston

Prison stocks have been ticking up for the past week.

Guns stocks are tumbling and prison stocks are soaring after Donald Trump won the presidential election.

Corrections Corp. of America CXW, -1.62%   was the biggest percentage gainer listed on the New York Stock Exchange Wednesday, with shares closing up 43%. Shares of Geo Group GEO, +2.79% which has corrections and other facilities in North America and abroad, closed up 21%.

The gain Wednesday marked the biggest one-day percentage gain for the company since June 2000.

The Obama administration in August announced plans to phase out some private prison use, which potentially could be reversed in a Trump administration.

By comparison, the S&P 500 SPX, -0.24%  was 1% Wednesday, and it has gained 3.5% so far this week.

Meanwhile, shares of gun maker Sturm, Ruger & Co. Inc. RGR, -1.91%  closed down 14.5% . Smith & Wesson Holding Corporation SWHC, -2.55%   shares closed down 15%.

Gun sales ticked up after of President Obama’s elections on concerns that laws around gun control would become more restrictive, said Chris Krueger, senior research analyst at Lake Street Capital. Now he believes gun buyers are more confident that Trump will protect gun-carry laws, so they’re not rushing out to buy them, leading to a drop in the stock, he said.

In California, voters passed a ballot measure that tightened gun-control laws in the state. Washington state residents voted to restrict access to firearms for people that have been deemed by a court to be a threat. Nevada residents voted to expand background checks for gun purchases.

Read more at marketwatch.com

Featured photo courtesy of wisegeek.com

Filed Under: Gun News Tagged With: Donald Trump, Guns company stocks, presidential election, prison stocks

Related Posts

  • SHOT SHow Media Day Destinee
    SHOT Show 2013: Freezing Media Day
  • .410 Gauge Double Tap Handgun? - TheArmsGuide.com
    The DoubleTap .45: New Release Date, New Options
  • 3D Printed Lower - Gun of the Future? - TheArmsGuide.com
    3D Printed Lower – Gun of the Future?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

In Case You Missed It

The 7 Best Fireproof Gun Safes For Your Money Featured
Gun Safes

The 7 Best Fireproof Gun Safes for Your Money

January 19, 2021

Best Ar 10 Lowers Featured
Rifles

Best AR-10 Lowers (2021)

January 19, 2021

Best Sig Sauer P365 Holsters Featured
Handguns

Best Sig Sauer P365 Holsters

January 19, 2021

Best Ar 10 Upper Receiver
Rifles

6 Best AR-10 Upper Receivers – A Buyers Guide

January 11, 2021

© Copyright 2021 Thearmsguide · All Rights Reserved.

  • Comms Check
  • Privacy Policy
  • Terms of Use
  • Contact Us

Affiliate disclosure: As an Amazon Associate, we may earn commissions from qualifying purchases from Amazon.com.