Shares of gun makers have been gaining ground as Democratic candidate Joe Biden leads polls, and if he wins the November election there are expectations of a renewed surge in gun sales that could drive shares even higher
have both rallied around 8% since late September, mirroring Biden’s widening lead in the polls since his debate against President Donald Trump. The S&P 500 is up 4% in that period.
“Should we see a Biden-Harris administration get elected, I would anticipate a surge in sales of modern sporting rifles, high-capacity magazines and corresponding ammunition,” said Aegis Capital analyst Rommel Dionisio, using an industry term for military-style rifles, a high-margin product category for firearm manufacturers.
Biden has promised to prohibit the sale of military-style rifles and high-capacity magazines, similar to a 10-year ban that expired in 2004. He also promises to require owners of military-style weapons to either sell them to the government or register them with the government.
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