Gun stocks gain as FBI checks hit record in March

Big 5 Sporting Goods

01/04/2021 19:46

** Gun stocks gain as data shows firearm background checks
rose 36% in March
    ** National Instant Criminal Background Check System (NICS)
showed screenings hit ~4.7 mln in March vs ~3.4 mln in February,
and up from previous monthly record of ~4.3 mln in January (https://bit.ly/39z5NY0)
    ** Although NICS background checks from Federal Bureau of
Investigation don't directly correlate to sales, they serve as
best barometer of Americans' volume of firearm purchases
    ** President Joe Biden has urged Congress to pass stricter
gun control laws in wake of mass shootings in Atlanta and
Boulder, Colorado last month  urn:newsml:reuters.com:*:nL1N2LL22Q
    ** On Thurs, Smith & Wesson's  SWBI.O  stock up 5%, while
Sturm Ruger & Co Inc's  RGR.N  shares up >2%
    ** And shares of ammunition and outdoor products seller
Vista Outdoor  VSTO.N  up ~1%
    ** Ammunition and munitions provider Ammo Inc's  POWW.O 
stock up ~5%. POWW boosted its FY21 rev forecast on Thurs
 urn:newsml:reuters.com:*:nL4N2LU410
    ** Firearms shares have surged over the past year amid
COVID-19 fears, civil unrest in many cities and concerns of
stricter regulations under a new government

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))