RGR - Smith & Wesson faces House subpoena as shares underperform rivals

The U.S. House Oversight Committee subpoenaed firearms maker Smith & Wesson Brands ( NASDAQ: SWBI ) for information on its AR-15 style firearms sales and marketing.

The subpoena followed the refusal of Smith & Wesson's CEO to appear before lawmakers last month and for the company to produce the necessary information requested by the committee.

"While your company refused to provide information specific to AR-15-style rifles, the limited information provided shows that your company brought in at least $125 million from AR-15 style rifles in 2021 alone," noted House committee chairwoman Representative Carolyn Maloney.

Executives from Sturm, Ruger & Co. ( RGR ) and Daniel Defense appeared at the House hearing last week and are not facing further subpoenas.

Investors are hoping the company can turn the page on the controversy and focus on fundamentals. Shares of Smith & Wesson have trailed the S&P 500 Index and peer Sturm, Ruger over the last 52 weeks with a stinging 41% slide.

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