From the COVID-19 crisis to the Black Lives Matter riots, there’s no doubt many Americans have felt a renewed pressure to keep their families safe.
And a lot of them are rushing to buy guns now as the protests combine with U.S. presidential politics to fuel unprecedented demand.
The FBI reports that firearms background checks jumped to a record in June, just as BLM’s violent demonstrations erupted around the U.S.
That record setting surge was only an extension of the increases that began in March as the coronavirus prompted nationwide lockdowns.
Claims Journal reports that “The boom is lifting the shares of gunmakers Smith & Wesson Brands Inc. and Sturm Ruger & Co. after four mostly lean years for investors. Gun shop owners and Wall Street analysts predict new sales gains, especially if protests continue and Democratic presidential challenger Joe Biden, who supports more restrictions on firearms, maintains his lead in national polls over President Donald Trump.”
While gun sales do typically increase in election year, this one is breaking records.
Peter Keith, an analyst at Piper Sandler, says “I think you’ll probably see continued strong demand around the civil unrest and the defund-the-police theme for July and August.”
So far, the proof is in the numbers. As reported by Claims Journal “Smith & Wesson has more than doubled this year to $21.95, rising Wednesday to the highest in almost three years. Sturm Ruger has advanced 62% to the highest since 2016.”
They also note that “Financial analysts are ratcheting up their revenue estimates for gunmakers after recent quarterly sales gains.
Lake Street Capital Markets projects annual sales of $568 million for Sturm Ruger, up about 25% from the estimate three months ago, according to data compiled by Bloomberg. Smith & Wesson will ring up sales of $825.2 million, a 20% increase from expectations in early March, according to the average of analyst estimates.”
That should assist in the Great American comeback!
Claims Journal also quotes James Hillin, the owner of Full Armor Firearms in Texas, who said the store’s gun sales have increased 75% since January, and that “95% of those were by new gun owners.”
“They’re scared,” Hillin said before cutting a brief interview short to attend to waiting customers. “They want to protect themselves.”
This embrace of the 2nd Amendment is exactly what the left fears as they continue to push an increasingly radical anti-gun and anti-law enforcement agenda.