The gun industry is laying off

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It seems since Trump’s election, gun buyers aren’t rushing to stock up on guns and ammos, and now business is really bad:

Unfortunately, Trump’s win has had the unintended consequence of throwing the firearms industry into a deep slump, forcing major companies to lay off workers, driving prices deep into the red, and forcing some gun dealers out of business. While the Obama years might have been a dark time for gun rights, the Democrat president was a boon for gun retailers and manufacturers (a fact Obama has admitted himself). Each time the needle ticked further in the direction of gun restriction, Americans flocked to their local gun store and plunked down cash for more irons.

The industry swelled because of the “panic buying,” with new manufacturers popping up, old names in the industry swelling their ranks, and more new gun owners pushing into demographics with previously tepid interest.

In the Trump era, however, that fear is gone, and with it the market’s urgency to beat the clock on the next “commonsense” gun ban. That’s helped nudge iconic gunmakers Colt and Remington to lay off hundreds of workers and shut down entire divisions of their companies, forced manufacturers to close their doors, and prompted retailers and distributors to offer deep discounts on firearms, with one offering an AR-15 rifle at prices below even the cheapest handguns.

“The combination of increased inventory in the channel and a likely decrease in consumer demand for the near term has made for a more challenging sell-through environment,” said a top executive with gunmaker Ruger during a February 23 investor call.

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