Gun Stocks Rally On After Background Checks Surge 75% In May
- Unprecedented gun demand to last months, analyst says
- Unrest, election expected to bolster interest in firearms
Photographer: Scott Olson/Getty Images
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Background checks for gun buyers have risen for 13 straight months, with more recent levels showing “unprecedented” strength and demand-drivers in place to continue the trend through fall, according to Lake Street Capital Markets LLC.
The checks for repeat buyers or first-time gun owners jumped 75% in May on an adjusted basis compared with a year earlier. It was the third straight month to see growth of that magnitude -- checks rose 80% in March and 69% in April. The data show a significant increase from the adjusted gains of 19% and 17% in January and February respectively.