Guns are very popular in America. The 2018 Small Guns Survey reported that there are 393 million guns in America. Guns are so popular that they exceed the number of cars registered in the US by over 100 million. Pew Research reports last that 3 in 10 American adults own a gun and 11% live with a gun owner. 67% say they own one for protection. Gun ownership has remained relatively constant, ranging from 37% to 45% over the past fifty years. Despite the political wrangling over firearms, the NRA says 6 -7 million new guns are made or imported into the US every year. In fact, any time there is talk of enhanced gun control, gun sales actually soar as gun owners appear to fear their rights being restricted and to show support for their Second Amendment rights.
COVID-19 also juiced gun sales considerably, according to Sturm Ruger Company Inc.’s (RGR) just-released earnings report and the FBI. Unless you were living under a rock, the nation was in a full-blown panic during the month of March, as grocery stores were being cleaned out. It turns out that nationwide civil upset does wonders for gun sales. As RGR management said in its conference call. [full article]