Diamonds and Dogs
Today's diamond is Smith & Wesson Holding (SWHC) up over 10% due to tougher gun regulations coming down the pike. President Obama, in an emotional press conference today, announced new initiatives that will implement tougher gun control rules, more specifically the sale of guns. It seems like every time President Obama makes a press conference on gun control, the gun stocks move higher. Smith & Wesson' stock has more than doubled in the last year. The new rules will provide more extensive background checks on gun buyers by the FBI and try to prevent those with mental health conditions getting their hands on guns. I think we can all agree that's a good thing.
So much for a Fitbit Christmas. The recent IPO, Fitbit (FIT), the maker of wearable health-tracking devices, fell 12% to its lowest price since coming public after introducing a new smartwatch, similar in design to Apple's product. The competition for smart watches is heating up with Fossil Group and Under Armour debuting similar fitness devices at the coming International Consumer Electronics Show. It's tough to compete with Apple, Fossil, and Under Armour. Let's hope Fitbit can distinguish themselves.