⁍ Shares of gun makers have been gaining ground as Democratic candidate Joe Biden leads polls.
⁍ Expectations of a renewed surge in gun sales that could drive shares even higher.
⁍ Fears about the coronavirus pandemic, civil unrest related to protests over racial justice and worries about a potentially disputed presidential election on Nov. 3 have created a surge in gun demand this year.
– If you’re a gun owner, Joe Biden’s name is on the ballot—and if you’re also a gun owner, you may want to buy some firearms before it’s too late. Bloomberg reports that shares of gunmakers Smith & Wesson and Sturm Ruger have risen in the wake of Biden’s rise in the polls, and analysts say a victory for the former VP candidate and his running mate, California Sen. Kamala Harris, would likely lead to a surge in gun sales. “Should we see a Biden-Harris administration get elected, I would anticipate a surge in sales of modern sporting rifles, high-capacity magazines, and corresponding ammunition,” Aegis Capital analyst Rommel Dionisio tells Reuters. Gun control is a hot-button issue in the US, and analysts say a victory for Biden and Harris, who favor stricter gun laws, could make it easier for Democrats to get legislation passed.
Source: https://www.reuters.com/article/us-usa-election-guns-stocks/shares-of-gun-makers-gain-as-bidens-lead-grows-idUSKBN2711KD