One would think that the gun industry would thrive under an entirely Republican government, because more people would feel good about the government’s stance on gun legislation. The NRA loves Republicans because they always push to loosen gun laws, even in the face of horrific tragedy (especially in the face of horrific tragedy). Oddly enough, such is not the case. The gun industry is suffering under Donald Trump, and the reason why is quite amusing, to say the least.
The gun industry, which the NRA represents whether they want to admit it or not, thrives on fear – specifically, fear of losing gun rights. Conservatives’ abject fear that the government will make buying guns more difficult, and will probably also come and take the guns they already have, really only happens under Democrats. So they go out and buy up more guns so that a) They already have their guns, and b) So they’re better able to defend themselves when the big, bad, tyrannical blue people come to steal what they think is their only method of holding onto their freedoms.
Under President Obama, various gun manufacturers’ share prices soared because of the increased sales. The market responded badly to Trump’s election, however, and these same manufacturers’ shares plummeted and have not recovered. The post-election market boom that other industries enjoyed didn’t touch the gun industry. You can see the huge dip two major manufacturers took in November, just after the election, and how much they’ve struggled to recover below:
Of course, gun manufacturers are trying to spin the Republicans’ victories as a positive on their earnings calls. In February, Michael Fifer, the CEO of Sturm, Ruger, said:
“You’ve got more concealed carry in more states… You’ve got more new shooters coming along […] All that stuff drives demand. And in some municipalities, you have the cops backing off. They’re being seen by the media too often as the enemy. And so, they’re backing off, and crime rates in those cities are soaring to the roof. Those people could care less who’s President. They want to defend themselves.”
But as of today, share prices continued their slumps. For an industry that thrives on fear of Democrats, a Republican government is a dreadful thing.
Featured image via Spencer Platt/Getty Images