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IPFS News Link • Business/ Commerce

Gunmaker Stocks Soar As Biden Lead Grows

• https://www.zerohedge.com by Tyler Durden

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. 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.

Another company, Clarus Corporation's Sierra ammunition brand, reported a 36% increase in sales in 2Q20. The company explained the rise in ammo demand is due to "social and civil uncertainties and the upcoming US elections." 

In July, Sturm, Ruger & Co. told investors gun sales were up as personal protection became popular with Americans following social unrest. The company reported a 47% increase in gun and ammo sales in 1H20.

Olin Corp, the owner of the Winchester brand, said 2Q20 ammo sales were the strongest since 2016. 

Vista Outdoor, the owner of brands including Bushnell rifle scopes and Federal ammunition, said: 

"We're seeing stockpiling happening to a certain degree, but the free time has given people more opportunities to recreate in real-time," Vista Outdoor CEO Christopher Metz told investors.