Smith & Wesson reports record gun sales

Smith & Wesson’s stock has been climbing since January

(CNN/WWLP) – It appears the demand for firearms in the United States is on a steady rise. Shares of Smith & Wesson, a manufacturer of firearms, reported an all-time high on Monday.

The same day the FBI reported that it processed 2.2 million background checks in July, making it the busiest July on record. By comparison, 1.6 million were processed in July 2015. Smith & Wesson’s stock has been climbing 38% since January as gun sales have soared.

Samuel Saquaido, who is pro-Second Amendment, said, “A lot of people feel they want to purchase their firearms and own them before it’s made illegal, so that way, quite possibly, they can be grandfathered in.”

Gun maker Sturm Ruger has seen their shares increase 16% since January first. Both Sturm Ruger and Smith & Wesson have seen big gains in value following several mass shootings this year.

Probably important to note, background checks are not the same thing as gun sales. They’re conducted by the FBI with every gun purchase from a federally licensed dealer.

Since one check can cover a single purchase of multiple guns, and since some purchases are not conducted by federally licensed dealers, the FBI data is not a precise read on gun sales.

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