Gun sales, stocks soar

President Obama’s move to tighten gun restrictions follows a string of high-profile shootings and surging sales of firearms — and some experts believe Tuesday’s executive action will only heighten demand.

Gun manufacturers have seen their stocks climb in recent days as sales pick up.

Shares of Smith & Wesson jumped 11 percent Tuesday, to $25.86, when the president unveiled his new plan for expanding background checks on gun sales, while Sturm, Ruger & Co.’s stock climbed nearly 7 percent, to $65.54.

For gun-rights groups, the numbers serve to validate a long-running joke within the industry: Obama is the gun salesman of the year.

“President Obama has single-handedly done more to promote gun ownership than anyone else,” said Erich Pratt, executive director of the Gun Owners of America.

“Gun owners are concerned, and they should be,” Pratt continued. “We see people running to gun stores to buy firearms and ammunition.

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