Stocks of gunmakers have surged at the grim prospect of a Joe Biden presidency, with sales of firearms also likely to follow suit in response to the risk of the Second Amendment being threatened.
After an initial tumble on Wednesday at the likelihood of Trump winning reelection, gun stocks have suddenly risen dramatically over the last 48 hours.
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“This should not be a total surprise since we have warned for months that Americans across even the most liberal states were panic-hoarding guns and ammo,” reports Zero Hedge.
“Weapon background checks surged to record highs, rose 79% year-over-year over the summer amid pandemic fears and violent social unrest gripping major metros.”
Summit.news reports: As we reported before the election, gun stores were being “cleaned out” across the country, notably by first time buyers worried at the prospect of a break down in law and order.
Gun makers like Sturm, Ruger & Co. and Clarus Corporation’s Sierra also reported rising gun sales for personal protection as America experienced months of unrest and riots following the death of George Floyd.
Fears of mass unemployment under a Biden presidency are also partly driving the interest in firearms for self-defense.
Biden campaigned on a gun control policy of banning assault weapons, enforcing more stringent background checks, and ending the sale of firearms and ammunitions online.
However, with Republicans maintaining control of the Senate, he will face an uphill struggle to dilute Second Amendment rights.