Apparently, those PPOT shooters and gun enthusiasts have cut back on their ammo purchases lately:
https://www.marketwatch.com/story/ammo-seller-vista-outdoors-stock-plunges-to-record-low-ceo-doesnt-know-when-sales-will-bottom-2019-02-07
Partial content:
Shares of Vista Outdoor Inc. plunged to a record low in active trade Thursday, after the ammunition and outdoor recreation products seller missed sales expectations and cut its outlook, with Chief Executive Chris Metz indicating he didn’t know when the weakness would end.
“This period of soft demand has persisted longer than any previous market cycle in recent history,” Metz said on the post-earnings conference call with analysts, according to a transcript provided by FactSet. “There’s simply no precedent for this trend.”
He said the company has studied a series of data points in an attempt to get a read on the trend, including National Instant Criminal Background Check System (NICS), point-of-sale data, consumer surveys and federal excise tax data. But whatever metric you choose, “we see a continued challenge,” Metz said.