Smith & Wesson Say First Time Gun Buyers Could Top 8M

Wikimedia

Gun sales are hitting a high in 2020 as per information obtained about a large number of background checks being conducted through the US. Smith & Wesson, one of the most popular firearm manufacturers said that almost half of these purchases are by first-time firearm owners.

Chief executive Mark Smith told analysts that almost 8 million Americans have already decided  to “exercise their Second Amendment rights for the first time.”

The company mentioned that its data was obtained from the National Shooting Sports Foundation (NSSF) whose estimates indicate that 40% of the firearm purchasers in 2020 are buying their first firearm.

Smith also said that the new purchases are further “broadening and diversifying” the company’s consumer base and provide indications that of long-term vitality of the industry.

Smith said that NSSF data noted that “women are making up 40% of new buyers and overall firearm purchases by African Americans are outpacing all other demographics with 58% growth in the first half of the year alone through June.”

This year has been a historic year for gun purchases. More than 19-million-gun background checks have been done, more than all of 2012 and each of the years before that. On Cyber Monday 123,797 background checks were conducted.

Source Fox Business


Follow us on Google news for more updates and News










PLEASE READ THE IMPORTANT DISCLOSURES BELOW.

This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.