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BREAKING :
THE NATIONAL RIFLE ASSOCIATION IS FIGHTING BACK AGAINST A LAWSUIT FILED THURSDAY BY NEW YORK’S ATTORNEY GENERAL BY SUBMITTING ITS OWN CIVIL SUIT AGAINST THE STATE OFFICIAL, ACCUSING HER OF DEFAMATION AND VIOLATING ITS RIGHTS TO FREE SPEECH. THE NRA’S LAWSUIT WAS FILED IN THE FEDERAL COURT OF NEW YORK AND ALLEGES ATTORNEY GENERAL LETITIA JAMES “MADE THE POLITICAL PROSECUTION OF THE NRA A CENTRAL CAMPAIGN THEME” WHEN SHE WAS RUNNING FOR THE AG’S OFFICE IN 2018, AND HAS NOT TREATED THE ASSOCIATION FAIRLY SINCE.AS POLICE FORCES THROUGHOUT AMERICA LOSE FUNDING, THE INEVITABLE HAS BEGUN: PEOPLE ARE STOCKING UP ON GUNS AND AMMUNITION. BACKGROUND CHECKS PRIOR TO GUN PURCHASES HAVE SHOT UPWARD. IN JULY OF THIS YEAR, THE FEDERAL BUREAU OF INVESTIGATION PERFORMED 3,639,224 OF THESE CHECKS. IN JULY 2019, THEY PERFORMED ONLY 2,030,661. THAT’S AN INCREASE OF 79.2 PERCENT. JUNE, THE MONTH MAJOR RIOTS BEGAN SWEEPING THROUGH AMERICA, SAW AN EVEN STEEPER INCREASE. FBI DATA INDICATES 2.3 MILLION GUNS WERE SOLD IN JUNE 2020—AN INCREASE OF 145.3 PERCENT OVER JUNE 2019. MEANWHILE, POLICE IN MAJOR CITIES ARE BEING DEPRIVED OF THEIR ABILITY TO ENFORCE THE LAW.SINCE MARCH, MANY INDUSTRIES HAVE COME TO A STUTTERING HALT OR HAD TO ADJUST THEIR OPERATIONS QUICKLY TO REMAIN AFLOAT AMID COVID-19. HOWEVER, THE WEAPONS INDUSTRY, PARTICULARLY GUN OWNERSHIP AMONG BOTH WOMEN AND MEN, HAS SEEN A HUGE SPIKE AMID THE PANDEMIC AND NATIONWIDE PROTESTS. AN ESTIMATED 46.3 PERCENT OF ADULTS OWN GUNS IN ARIZONA IN 2020. WOMEN GUN OWNERSHIP ACCOUNTS FOR MORE THAN 20 PERCENT OF GUN OWNERS NATIONWIDE.AMMO SALES HAVE SURGED FOR VISTA OUTDOOR AND OLIN CORP. DURING THE COVID-19 PANDEMIC AS FEARS OF CORONAVIRUS AND CIVIL UNREST PROMPT AMERICANS TO BUY GUNS AND BULLETS. VISTA OUTDOOR CEO CHRIS METZ SAID IN AN EARNINGS CALL THURSDAY THAT STRONG AMMUNITION SALES IN THE LAST QUARTER WERE DRIVEN BY AN INDUSTRY-WIDE 40% INCREASE IN FIRST-TIME GUN BUYERS DURING THE PANDEMIC, INCLUDING WOMEN AND PEOPLE OF COLOR, BASED ON DATA FROM HE NSSF GUN INDUSTRY GROUP. HE SAID THAT AMMO DEMAND IS SO BRISK, AND FUELED IN PART BY STOCKPILING, THAT SOME NEW BUYERS HAVE COMPLAINED THAT THEY CAN’T FIND ENOUGH AMMO IN STOCK.SMITH & WESSON ANNOUNCED THAT THEY WILL BE SPINNING OFF AMERICAN OUTDOOR BRANDS IN AUGUST. THE SMALL SIZE (NEARLY MICRO-CAP) OF THE SPIN-CO RELATIVE TO THE PARENT MAY PRESENT AN OPPORTUNITY TO TAKE ADVANTAGE OF FORCED SELLING. INCENTIVES OF NEW MANAGEMENT ARE STRONG. TRADING COMPS SUGGEST THAT THE SPIN-CO MAY FETCH A HIGHER MULTIPLE THAN IT WOULD AS A PART OF SMITH & WESSON BRANDS. IT WAS ANNOUNCED FRIDAY THAT SMITH & WESSON'S (SWBI) BOARD OF DIRECTORS APPROVED THE SPINOFF OF THEIR "OUTDOOR PRODUCTS AND ACCESSORIES" BUSINESS LINE AS AMERICAN OUTDOOR

NAT’L – OPINION – Gun Sales Continue Apparent Swell In June As Pandemic Rages And Politics Boil

Gun sales continued to mushroom in June, apparently due to a confluence of Joe Biden’s surge in polls, the spread of COVID-19, and ongoing protests against police brutality and racial injustice. Americans bought 2.4 million firearms in June, according to industry estimates from Small Arms Analytics & Forecasting. That is a 145% increase from June 2019. Handgun sales make up the bulk of those estimates and increased at an even higher year-over-year rate of 178%.

The FBI’s National Instant Criminal Background Check System processed more than 3.9 million firearm background checks in June, a monthly high since the FBI began reporting these statistics in 1998 and a full 70% increase over the same period last year. The FBI’s background checks data don’t serve as an exact measure of gun sales. Some states run background checks on gun permit-holders, so background checks cannot be equated directly to gun sales. Still, they serve as a proxy, and SAAF uses that data to form its sales estimates. Gun sales started to climb sharply in March, according to industry estimates, and continued to boom in April and May. June saw nearly 900,000 more FBI background checks than an already-high May. The increase in sales concerns some safety advocates. Higher availability of guns could lead to an increase in violent crime like homicide, according to the Harvard Injury Control Research Center. Advocates and public health experts have also warned of the increased risk of domestic violence and suicide, especially in the midst of the pandemic. It’s unclear if the spike during the pandemic, especially in June, was driven by new gun owners or existing owners adding to their collections. Experts have said they worry more about increased violence if data show an increase in new gun owners, as it expands the base of gun ownership.  [full article]

 

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