by Tyler Durden
Last Friday, in the aftermath of the most recent mass shooting in San
Bernardino and the latest attempt by Obama to impose further gun control
measures, ostensibly by executive order, we pointed out the one thing, or rather person, who even the NYT begrudgingly admitted in an article on "What Drives Gun Sales" has been the primary driver of gun sales in the US: US president Barack Obama.
The irony in all this, of course, was that just last Friday the stock
price of Smith & Wesson hit an all time high on expectations gun
sales are about to hit even greater all time highs in the coming weeks.
Alas, as it turns out, Obama is not a fan of efficient market irony
and instead of letting the chips on gun control fall where they may
especially if it means record stock prices for the shareholders of SWHC
and RGR, the president - in pulling a page straight out of the "US
Government vs Exxon" in which the company will soon be prosecuted over
its Global Warming denials as reported previously - has decided to take his vendetta with US gun makers to the next level and as the NYT reported overnight, "the
New York City public advocate on Monday asked federal regulators to
investigate whether the gun manufacturer Smith & Wesson had made
adequate disclosures in its financial statements."
One would think that being in compliance with all existing
SEC regulatory requirements would be sufficient, but when one is on
Obama's black list there are additional requirements for "adequate
disclosure" one must follow, especially the ones that one does not know
about because they appear only after the fact.
No comments:
Post a Comment