Article Image
News Link • Business/ Commerce

Gun Sales Have Dropped Since Trump's Election


Fears that Democratic candidate Hilary Clinton would win the election and limit gun sales led to record purchases last year, but Trump's surprise victory has had a reverse effect, with 2017 sales falling and investors selling gunmaker shares.

U.S. Federal Bureau of Investigation background checks in July fell 25% to 907,348, according to the National Shooting Sports Foundation. That was the worst year-over-year decline in background checks since November 2013, a year after Democratic President Barack Obama won his second election.

Background checks are a strong proxy for monthly gun sales, whose figures manufacturers do not publicly release.

Reflecting lower demand for guns, Sturm Ruger & Company (rgr, +1.13%) on Thursday reported revenue for the quarter ending on July 1 down 22% at $132 million. The company said the drop was due to unusually strong demand last year related to the Nov. 8 election.

Join us on our Social Networks:


Share this page with your friends on your favorite social network:

Stop Wars T-shirt at The Bitcoin Store