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IPFS News Link • Gun Rights

Smith & Wesson Shares Crash After Earnings Miss Shows Panic-Hoarding Guns Is Over

• Zero Hedge

Smith & Wesson Brands, Inc. shares crashed on Friday after the company's Q2 earnings report missed analysts' estimates as panic hoarding guns by Americans eased. 

Sales fell 7.3% in the quarter as gun demand subsided, prompting Cowen to downgrade the stock from "outperform" to "market perform". Cowen analyst Cai Von Rumohr slashed the price target to $22 from $38. The average price target is approximately $30.50. 

Shares of Smith & Wesson are down more than 17% in premarket to about the $19 handle.