Black Friday Was Good for Gun Makers
Gun makers were seeing green on Black Friday. Applications for background checks reached a new record high, and Wall Street is paying attention.
The FBI reports 203,086 background check requests on Black Friday.
That's a new record according to USA Today.
Black Friday 2016 saw 185,713 applications for gun sales.
Since the number of guns sold is not released to the public, background checks are the clearest indication of firearms sales that we have.
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Wall Street likes what it sees.
Shares of gunmakers Ruger (RGR) and American Outdoor Brands (AOBC) , the parent company of Smith & Wesson, were both surging on the Monday after Thanksgiving.
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