As CBS News is just reporting, “Vista Outdoor shares plummeted on Tuesday after it said it would stop making firearms, and focus on other product lines including bullets and water bottles.”
That’s right, Vista, one of the big three publicly traded gun makers will no longer make guns.
Vista will explore a sale of Savage and Stevens firearms as part of a review that began in November, the company said in a statement. “Vista Outdoor is excited about the potential of each of our core businesses, particularly ammunition, which is our largest core business,” said Vista CEO Chris Metz.
The effect of the Trump Slump has hit the big Minnesota-based conglomerate hard.
Metz alluded to the impact of politics on the business in a conference call Tuesday, saying “unexpectedly, the election results turned the shooting sports industry upside down.” …
“The bottom line is this, the company grew too fast and beyond its core,” said Metz.
Vista will apparently keep other firearm-related brands such as Bushnell, Weaver, BLACKHAWK!, RCBS, Uncle Mike’s, Hoppe’s and Outer’s.