Americans are rushing to buy guns amid continuing protests against police brutality towards Black people and the novel coronavirus outbreak, said a report Thursday.
Gun demand in the US reached a record-high in June, according to firearm background checks compiled by the Federal Bureau of Investigation, Bloomberg reported.
“GUN SALES ARE TYPICALLY ELEVATED DURING ELECTIONS YEARS”
Gun shop owners and Wall Street analysts predict new sales gains if protests following the killing of unarmed Black man George Floyd by police continue and presumptive Democratic nominee Joe Biden, who backs additional restrictions on firearms, maintains his lead in national polls over President Donald Trump.
Bloomberg’s report quoted Peter Keith, an analyst at investment bank Piper Sandler, who said gun sales were typically elevated during elections years, “particularly” in the fall as the elections get closer.
“I think you’ll probably see continued strong demand around the civil unrest and the defund-the-police theme for July and August,” added Keith.