Smith & Wesson Shoots Self in Foot (SWHC, RGR)

Posted in pre-market 
December 4th, 2009

Smith & Wesson Holding Corp. (NASDAQ: SWHC) got clipped after earnings last night as the company’s revenue expectations are indicating that the flurry of gun buying may be coming to an end or at least not running at the same pace as what has been seen over the first half of 2009.  Shares fell almost 10% in the after-hours session to $4.75 after a close of $5.27 on over 587,000 shares in the after-hours session alone.  The 52-week range is $2.04 to $7.52 and the average volume is 1.5 million shares. Pre-market volume this Friday is light with only about 20,000 shares traded as of 8:04 AM EST and the last trade seen was $4.53 for a 13% drop.  Dirty Harry might need to change his last name from Callahan to Sanchez.  We’d watch for added fallout in Sturm, Ruger & Co. Inc. (NYSE: RGR) as “the other public gunsmith” stock.

JON C. OGG

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