Smith and Wesson profit soars. Stock trades under $10

[CoastieRon]

Stock:Smith & Wesson Holding (SWHC)

They boosted their buy back price to $11 a share. Up 8.2% in last 5 sessions.....

Wikinvest News - Smith & Wesson Holding Corporation Announces Final Results of Tender Offer

Based on the final count by the depositary for the Offer, the company accepted for payment an aggregate of 1,417,233 shares of its common stock, at a total cost to the company of approximately $15.6 million, excluding fees and expenses relating to the Offer. These shares represent approximately 2.2 percent of shares issued and outstanding. Payment for the shares accepted for purchase under the Offer will be made promptly. The company expects to have approximately 63,000,000 shares of its common stock outstanding immediately following consummation of the Offer.

Read more: Smith & Wesson Holding Corporation Announces Final Results of Tender Offer | Benzinga

So people took the offer for $11 a share (I did not). Stock still going up (opened at 11.99)

 

[CoastieRon]

And still climbing.

 

[Kid Presentable]

So people took the offer for $11 a share (I did not). Stock still going up (opened at 11.99)

Glad I didn't take the offer when they were offering $10 dollars a share, then $11. My account is very happy right now. Ruger is doing great as well.

 

[CoastieRon]

Glad I didn't take the offer when they were offering $10 dollars a share, then $11. My account is very happy right now. Ruger is doing great as well.

I called my adviser and told him I was keeping the shares when the offers came out. He says "why are you calling me, I knew you weren't going to sell these back.."

SWHC still has the authority "to repurchase up to approximately $84.4 million of common stock in the open market or privately negotiated transactions."

I knew it was going to pop up after the buyback, but I didn't think it was going to go on the rip it is.

Read more: Smith & Wesson Holding Corporation Announces Final Results of Tender Offer | Benzinga

 

[jaypap]

 

[CoastieRon]

Ima gonna bump this because it has surged above $15

 

[Deerinheadlights]

Ima gonna bump this because it has surged above $15

I bought a small stake back in June. I never thought I'd double my money. i liked it because it was a MA company and providing jobs along with my 2a beliefs.

 

[CoastieRon]

I bought a nice chunk right after the Sandy Hook fall and then again the following march. While I haven't quite doubled yet (my first chunk did, my second chunk hasn't), I'm sitting fat and happy, and am getting ready to take profits on it. Bears make money, bulls make money, pigs get slaughtered.......

 

[Deerinheadlights]

I bought a nice chunk right after the Sandy Hook fall and then again the following march. While I haven't quite doubled yet (my first chunk did, my second chunk hasn't), I'm sitting fat and happy, and am getting ready to take profits on it. Bears make money, bulls make money, pigs get slaughtered.......

I need to correct my statement. Bought 500 shares at $9.90 so I'm up 50% not 100

 

[CoastieRon]

I need to correct my statement. Bought 500 shares at $9.90 so I'm up 50% not 100

I sold. That was my 1 year speculative buy.

Added to some other positions

 

[WatchCityCPA]

This is what straddles are for.

Nah, straddles are for making your broker rich.

 

[Kid Presentable]

Ruger has gone banana's as well. i'm still happy with my s&w and ruger buys. I was able to purchase very low for both, so my account is very happy right now.

 

[BattleSnail]

So a retirement fund will shortchange its participants tens of thousands of dollars in a stock that has shown profound growth in order to make a point. These people are relying on sound financial decisions in order to live on after retirement, not taking a ride on some touchy-feely moral high horse. This screams fiduciary malpractice.

First, yes and it's common. Some don't won't invest in tobacco and alcohol companies or anything not deemed "socially responsible".

Second, it's not even remotely fiduciary malfeasance (the word you meant to use) because any investor can participate or not in an investment fund and has their own responsibility to know what they're investing in...read the prospectus. Futhermore, even if it's a pension that a person is not even contributing to, then the person really has no place to gripe bc they're getting free money.

It would be malfeasance if you had your own money being managed by someone and you explicitly told them NOT to invest in gun companies and then they did anyway. Or if you told them specifically that you wanted to hole S&W stock and they refused to buy it. But when you're playing with someone else's money, as in a pension, you can't really complain. If as a company policy, your 401K can't/won't invest in "vice" stocks then you have the freedom to limit contributions or not participate at all and go invest your own money by yourself.

 

[CoastieRon]

I'm pretty sure that non of those funds actually dumped the stocks......

 

[WatchCityCPA]

I'm pretty sure that non of those funds actually dumped the stocks......

Mutual funds are strictly regulated on disclosing their holdings - I do not know of one mutual fund who'd try to lie about their holdings... simply not worth the risk.

 

[CoastieRon]

Mutual funds are strictly regulated on disclosing their holdings - I do not know of one mutual fund who'd try to lie about their holdings... simply not worth the risk.

true. I'm just saying that after all the bluster and yapping off about selling the holdings in firearms/firearms related companies by certain mutual funds, it never actually happened in the end.

What were the funds again? Anyone remember?

- - - Updated - - -

I take it back, it was New York pensions that divested. Meh.