• Categories
  • Archives

Gun Manufacturer Stocks Fall After NRA Reports Steep Decline in Donations Over the Past Year

What a shame.

ATLANTA, GA - APRIL 28: Wayne LaPierre, executive vice president and CEO of the NRA, speaks at the NRA-ILA's Leadership Forum at the 146th NRA Annual Meetings & Exhibits on April 28, 2017 in Atlanta, Georgia. The convention is the largest annual gathering for the NRA's more than 5 million members. (Photo by Scott Olson/Getty Images)

Among the greatest national shames is the United States’ mass shooting epidemic. As of November 8th – the 312th day of the year – there had been 307 mass shootings in the country. A majority of Americans support stricter gun laws, but the National Rifle Association, in donating tens of millions of dollars a year to Republican candidates, has kept enough lawmakers at its disposal to halt any meaningful legislation to remedy the problem.

Now, it looks like Americans may finally be wising up.

The NRA reported losing nearly $55 million in donations over the course of 2017, and now Yahoo News is reporting that gun manufacturers are subsequently taking a hit as well, with even the most formidable companies seeing a drop in the value of their shares.

Sturm, Ruger & Company, the largest gun manufacturer in the US, fell 1.3% Tuesday. American Outdoor Brand Corporation, which owns the Smith & Wesson brand, saw a decline of 2.9%, and Vista Outdoor, which makes ammunition and rifle-scopes was down 3.9%.ย Olin, an ammunition manufacturer, however, saw a 0.6% increase.

Though many Republican politicians – including the president-are still in the pocket of the NRA – its influence in the political sphere hinges on the organizations overwhelming amount of donations to buy influence over the majority party. With less donations and falling stocks, their financial foothold may be beginning to weaken.

It’s a promising start, but the efforts to mobilize and save lives aren’t weakening.

Though the share values in the gun market may be dropping, it just might be possible that American values – like prioritizing self defense without fetishizing tools designed to kill – are on the rise.

Page 1 of 2
First | Prev | 1 | 2 | Next | Last
View All

Tags:

  • Hide Comments

157 Shares