I have frequently described former President Obama as the greatest thing to happen to the firearm industry in the history of weaponry. Recently released economic numbers seem to back me up on this.
But while the constant threat of new regulations under Obama resulted in a massive full forward of gun demand and pushed gun stocks to all-time highs, the election of Trump, and thus the removal of those threats for at least the next 4-8 years, is having exactly the opposite effect.
If fact, Remington Outdoor just announced layoffs of 120 people at their upstate New York manufacturing facility due to sinking gun demand in the Trump era.
Per the Wall Street Journal:
Remington Outdoor Co. has laid off more than 120 workers at an upstate New York factory in response to falling demand for firearms, dealing a blow to an upstate village of 8,000.
Since Donald Trump’s presidential victory eased concerns about stiffer gun laws, the small-arms industry has seen a drop in sales. As a result, orders for Remington handguns have slowed, a company spokeswoman said Monday. That is “a dynamic from which Remington is not immune,” she said of the industry challenges.
The March 8 layoffs are a hit for Ilion, N.Y., where Remington has operated a plant since the 19th century, said Terry Leonard, mayor of the village located about 60 miles east of Syracuse.
“Should they ever just close down totally, it would be a total catastrophe for the entire area here,” the mayor said.
ZeroHedge also points out that other retailers and companies are affected.
Meanwhile, other firearms makers, including American Outdoor Brands, formerly known as Smith & Wesson, say demand for weapons, particularly handguns, has been ebbing since Trump’s election. Earlier this month the company posted disappointing sales and higher inventories and admitted to investors on their quarterly earnings call that business had slowed…all of which sent the stock into a downward spiral.
And yet another indicator: FBI background checks are projected to fall.
Despite the “safety” of a Trump administration, it’s imperative we remain vigilant in the face of gun controllers. They are always working to curtail our Second Amendment rights and Trump will not always be the president and we will not always control both houses of Congress. If you can, throw some love to the gun industry and pick a little something special. And of course, always buy ammo.