Rommel Dionisio, managing director of Aegis Capital, said: “The Democratic presidential election that promises to strengthen gun control legislation is likely to lead to increased demand for guns.”
Dionisio said that gun owners are worried that Democrats will pass gun control legislation, which is a foreseeable surge in sales before and after the election.
After President Barack Obama’s successful campaigns in 2008 and 2012, gun sales skyrocketed. The previous record of 15.7 million guns sold in a calendar year was in 2016, when the vote suggested that Hillary Clinton would win the presidential election, inspiring many people to buy gun sets, according to Mark Oliva, National Shooting Public Director of Affairs Sports Foundation, a trade organization that tracks and analyzes gun sales.
After the mass shooting at the AME Church in North Charleston in 2015, Clinton adopted stricter gun control measures during her 2016 campaign. Obama tried and failed to persuade Congress to adopt stricter gun control measures after the Sandy Hook Elementary School tragedy in 2012. Former Democratic President Clinton signed a landmark ban on turning offensive weapons into law in 1994, and the ban expired ten years later.
In contrast, President Trump was dissatisfied with Clinton on election day, and the subsequent gun purchases were called Trump’s downturn.
FBI background checks related to gun sales fell by a record 8% in 2017. SturmRuger, Vista, American outdoor brand (AOBC)And Winchester Olin (OLN). A total of 610 million US dollars, or about 13%, year.
Firearms manufacturer Remington Arms filed for bankruptcy in 2018, when industry sales fell another 6.1%. But according to industry research company Small Arms Analytics, the gun industry began to rebound in 2019, with 13.9 million guns sold.
Oliva said the ongoing struggle between Republicans and Democrats to control the U.S. Senate is likely to play a key role in gun sales.
The candidates for the U.S. Senate in Georgia are expected to hold two independent direct elections in January because none of them won a majority on election day. If the Democrats manage to get two seats, the party will have a 50-50 distribution ratio between the majority party in the Senate and the House of Representatives. If Vice President Kamala Harris breaks the Senate relationship, it may pass gun control legislation.
Oliva said: “This industry is, according to his words, the Biden campaign.”
Biden’s campaign and transition team did not immediately respond to a request for comment on his gun policy on Wednesday morning.
With Biden becoming the leader in winning the White House, gun sales have surged this year. However, the industry has also been boosted by the Covid-19 pandemic that began in March. The Americans who broke out due to the police killing of George Floyd feared a potential wave of crime and related national social unrest, forcing many people to buy guns for the first time.
Gun sales in 2020 hit a record high After maintaining an unprecedented pace for most of the year, ahead of election day.Oliva said that gun sales in October increased by 60% compared to the same period last year, and a total of 17 million guns were sold in the first 10 months of 2020.
He expects this trend to continue into December.
“We are entering the holiday and hunting season, which is traditionally the strongest month for gun sales,” Oliva told CNN Business.