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NAT’L – GUN POLITICS – Shares of gun makers gain as Biden’s lead grows

Shares of gun makers have been gaining ground as Democratic candidate Joe Biden leads polls, and if he wins the presidential election in November there are expectations of a renewed surge in gun sales that could drive shares even higher. Shares of Smith & Wesson Brands and Sturm Ruger have both rallied around 8% since late September, mirroring Biden’s widening lead in the polls since his debate against President Donald Trump. The S&P 500 is up 4% in that period. 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. Smith & Wesson CEO Mark Smith last month said the industry was unable to keep up with demand. A victory by Biden and his vice presidential running mate Kamala Harris, who favor increased gun regulation, could further stoke demand for firearms – and shares of firearms makers – particularly if Democrats wrest control of the Senate from Republicans, giving them majorities in both houses of Congress and making it easier to approve legislation. “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,” said Aegis Capital analyst Rommel Dionisio, using an industry term for military-style rifles, a high-margin product category for firearm manufacturers.  [full article]

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