Business

Taurus getting into cover as Brazil’s gun market gets fierce

taurus guns brazil decree

Since the beginning of his presidential campaign, Jair Bolsonaro has used his “finger guns” gesture as somewhat of a motif. It revealed a promise that was at the core of his program—his desire to scrap gun restrictions in Brazil. “Guns are our guarantee of freedom,” he said during a campaign event. On Tuesday, he made the first step towards it, signing a decree that mildly loosened gun ownership rules. But following a decree that could—at least in theory—boost gun sales, Taurus, Brazil’s biggest gun manufacturer, lost 22 percent in market value.

Taurus’ market value has...

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