Gun stocks were firing higher on Monday following a surge in background checks this Black Friday weekend.
Over 200,000 background check requests for gun purchases were filed to the FBI on Friday, marking a new one-day record of applications, USA Today is reporting.
Overall, the bureau received 203,086 requests on Black Friday, up from last year's previous single-day record of 185,713 and 185,345 in 2015.
Consequently, shares of major gun makers were climbing higher during early Monday morning trading. Shares of Sturm Ruger & Company Inc. (RGR - Get Report) were up over 3.5%, whiles shares of its counterpart American Outdoor Brands (AOBC - Get Report) , the parent of Smith & Wesson, were also climbing higher as well.
Gun manufacturers were looking to Black Friday weekend to shrink their bloated inventories by offering consumers bargains on their firearms.
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