Fox's Varney Offers Financial Advice In Response To The Paris Attacks: Buy Gun Stocks
Blog ››› ››› TIMOTHY JOHNSON
Fox Business Network host Stuart Varney used the terrorist attacks in Paris to push the stock of U.S. gun manufacturers and hype an ad from the National Rifle Association.
On November 13, terrorists suspected to be affiliated with ISIS attacked multiple locations throughout Paris, leaving at least 129 people dead and hundreds more wounded.
During the November 16 broadcast of Varney & Co., host Varney appeared to advise viewers on how to profit from the attacks saying, "How's this for a question. Is it a good time to buy when chaos strikes? I mean that's a little strange thing to be saying on a Monday morning like this, but what do you say?"
Varney went on to recommend the stocks of two publicly traded gun manufactures: "Here's an interesting group of stocks which I would expect to see have some movement today, and that would be gun stocks. Smith & Wesson and Sturm Ruger, where are they now? They're up. They had a nice run last week, they are up again this morning. 2.5 percent for Smith & Wesson, 1 percent for Sturm and Ruger."
He also used the attacks to promote a widely discussed ad from the NRA, saying, "I am thinking of that ad from the NRA, where the young man comes on the screen and says the Islamists, they hate us, you're not going to take my country, and it's an ad for buying a gun."
Both Sturm Ruger and Smith & Wesson are "corporate partners" with the NRA.