Socially conscious investors may want to stop reading. But the fact is that gun stocks were some of the best-performing stocks at the onset of the coronavirus pandemic. And they continue their positive momentum.
Some of that may be historical. Firearms sales tend to increase during an election year. But of course, this has not started out as a normal election year.
In March, the nation was gripped by pictures of long lines outside gun stores in several U.S. states. The website Ammo.com reported that bullet sales increased by 222% in the period from February 23 through March 15 as opposed to the first three weeks in February.
And according to the Federal Bureau of Investigation’s (FBI) National Instant Criminal Background Check System (NICS), there was a 73% year-over-year increase in background checks in February.
“The world has never seen anything like this and people want to make sure they're prepared for whatever lies ahead, whether that be food shortages, government shutdown, or worse," a spokesperson for Ammo.com said in an emailed statement. "When everything around you is uncertain, having a supply of ammunition can make our customers feel safer."
Given the likelihood of increased firearms sales, we’ve created this presentation that highlights seven gun stocks that you should consider for your portfolio.
Click the "Continue to Slide #1" button to view the first company.
