The unfathomable tragedy that took place at Sandy Hook Elementary in Newtown, Conn., has led to a major shift in public opinion on gun control legislation. It has also had a significant impact on firearm companies such as Smith & Wesson (NASDAQ:SWHC) and Sturm, Ruger (NYSE:RGR), which had already been slumping this month. While no additional gun control legislation is currently on the table in the U.S. Congress, if the assault weapons ban that was in effect from 1994 to 2004 were to be reinstated, it would significantly hurt revenue for these companies even further. In the following video, Motley Fool consumer goods analyst Blake Bos tells us whether investors should steer clear of this industry, or whether this low represents a lot of potential upside in the future.

Blake Bos has no positions in the stocks mentioned above. The Motley Fool owns shares of Sturm, Ruger. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.