Gun Sales Shooting Up
No one is buying anything these days. Except for guns, that is.
Economic insecurity combined with the fear that the new administration could curtail access to guns, apparently has people packing heat. Background checks, which strongly correlate to gun sales, hit a record high in November and that number is still climbing.
In fact, sales are so brisk that an organization called the National Shooting Sports Foundation says that some handguns, semi-automatic hunting and target rifles are “outpacing inventory.”
Gun makers Smith & Wesson and Sturm Ruger are seeing great growth and the market loves that. Smith & Wesson shares are up 55 percent in the last month and Sturm Ruger stock is up 60 percent.
Meanwhile, retailers Dick’s Sporting Goods and Cabela's admit they’re relieved that sales of guns and related hunting items are so brisk.
Just curious if this has anything to do with the fact that more people might be hunting for their own food these days.
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