ART CASHIN: It’s Boom Times For American Gun Sales
Mar. 23, 2012
There have been lots of big picture headlines crossing the wires lately related to the health of economies in the U.S., Europe, and China.
But amid all of this noise, there are some microeconomic trends that have gone largely unnoticed.
Art Cashin, UBS Financial Services director of floor operations came across an interesting story about firearms demand in America.
From today’s Cashin’s Comments:
Where Is Wyatt Earp When You Need Him – We were a little taken aback by the following MarketWatch story yesterday:
Boom times roll on for U.S. gun business: Sturm Ruger stops taking new orders, citing enormous backlog – By William Spain, MarketWatch
CHICAGO (MarketWatch) — Sturm Ruger & Co.’s announcement that it would stop taking orders until it clears an enormous backlog serves as the latest sign of the boom times for the U.S. firearms business.
Late Wednesday, Sturm Ruger (NYSE:RGR) said that in the first quarter, it had received orders for more than 1 million units. And despite “efforts to increase production rates, the incoming order rate exceeds our capacity to rapidly fulfill these orders,” Sturm Ruger said.