Forget gold bugs. True doom-mongers buy shares in Smith & Wesson Holding, maker of Dirty Harry's favored firearm. Despite Monday's market rout, the stock is up 30% since Feb. 19, compared with a 10% drop in the S&P 500. (Even gold is down 5%.)
Some bulls cite fears of slump-inspired social unrest. More likely, the risk of tighter gun controls in the future has fueled sales, with retail investors then jumping on the bandwagon.
And don't forget, S&W's stock is down more than half since last May. True, reports of looting might boost it further. But would that really make your day?
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