NICS November Data Shows Record-Setting Year Continues
Firearm background checks data for the month of November shows that the record-setting year continues, with checks rising 14 percent year-over-year and 9.7 percent from October.
The Firearm Background checks data is released by the FBI’s National Instant Criminal Background Check System, which is followed in the United States to determine if the prospective buyer qualifies for buying a firearm or explosives.
The data shows that, during November, checks rose to 2,561,281 from 2,243,030 in the same period last year.
The rise in background checks isn't a surprise given the increased number of shooting incidents in the country. According to Mass Shooting Tracker, 48 people were killed and 162 wounded last month in various shooting incidents across the United States.
Gun stocks have been mixed since the surprise victory of Donald Trump on November 8, as a Republican sweep in Washington placates fears about new gun control legislation, which could be bad news for gun sales.
Meanwhile, Smith & Wesson Holding Corp (NASDAQ: SWHC) is slated to report its second quarter financials after the market close. Wall Street expects EPS of $0.56 on revenue of $227.61 million. The consensus view implies 124 percent surge in earnings and 59 percent growth in revenue.
At last check, shares of Smith & Wesson rose 1.90 percent to $23.77. Rival, Sturm Ruger & Company Inc (NYSE: RGR) gained 3.79 percent to $53.35.
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