'California Enacts First Statewide Gun And Ammunition Tax In U.S.; Gov. Gavin Newsom Signed Several Gun-Control Measures, Including An 11% Tax On Retail Sales Of Firearms And Bullets' - WSJ
Portfolio Pulse from Benzinga Newsdesk
California has enacted the first statewide gun and ammunition tax in the U.S. Governor Gavin Newsom signed several gun-control measures, including an 11% tax on retail sales of firearms and bullets.
September 26, 2023 | 6:41 pm
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NEGATIVE IMPACT
The new tax regulation in California could potentially affect the sales of Axon Enterprise, a supplier of law enforcement and self-defense products.
As a supplier of law enforcement and self-defense products, Axon Enterprise could see a decrease in sales due to the new tax regulation. This could negatively impact the company's revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Digital Ally, a company that produces digital video imaging and storage products, could potentially see a decrease in sales due to the new tax regulation in California.
Digital Ally could potentially see a decrease in sales due to the new tax regulation. This could negatively impact the company's revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Olin Corporation, a manufacturer of ammunition, could potentially see a decrease in sales due to the new tax regulation in California.
Olin Corporation could potentially see a decrease in sales due to the new tax regulation. This could negatively impact the company's revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Sturm, Ruger & Company, a firearm manufacturing company, could potentially see a decrease in sales due to the new tax regulation in California.
Sturm, Ruger & Company could potentially see a decrease in sales due to the new tax regulation. This could negatively impact the company's revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Smith & Wesson Brands, a firearm manufacturing company, could potentially see a decrease in sales due to the new tax regulation in California.
Smith & Wesson Brands could potentially see a decrease in sales due to the new tax regulation. This could negatively impact the company's revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Vista Outdoor, a designer, manufacturer, and marketer of consumer products in the outdoor sports and recreation markets, could potentially see a decrease in sales due to the new tax regulation in California.
Vista Outdoor could potentially see a decrease in sales due to the new tax regulation. This could negatively impact the company's revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Wrap Technologies, a security technology company, could potentially see a decrease in sales due to the new tax regulation in California.
Wrap Technologies could potentially see a decrease in sales due to the new tax regulation. This could negatively impact the company's revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70