(June 1, 2009)–Louis Navellier has written on MSN Money: President Obama’s nomination of federal appeals court Judge Sonia Sotomayor to replace retiring Supreme Court Justice David Souter heralds yet another victory for gun-makers. Yes, you read that right.
Let me explain.
While most investors have been rightly focused on the crisis in the markets and economy lately, some Americans have been focusing on other political issues, namely the Second Amendment.
They wonder, will the Obama Administration and new Supreme Court nominee Sonia Sotomayor put the right to bear arms in jeopardy? Clearly, many think so, as evidenced by an increase in gun sales and an associated rally in gun stocks.
Indeed, two of my favorite gun stocks, Sturm Ruger & Co. (RGR) and Smith & Wesson (SWHC), rallied Thursday on the news of Sotomayor’s nomination. But it’s not just Sotomayor’s nomination that has been lifting the gun-makers. The recession has helped, too.
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