The Pak Banker

Shares of gun makers gain

- WASHINGTON

Shares of gun makers have been gaining ground as Democratic candidate Joe Biden leads polls, and if he wins the presidenti­al election in November there are expectatio­ns of a renewed surge in gun sales that could drive shares even higher.

Shares of Smith & Wesson Brands SWBI.O and Sturm Ruger RGR.N have both rallied around 8% since late September, mirroring Biden's widening lead in the polls since his debate against President Donald Trump.

The S&P 500 is up 4% in that period. Fears about the coronaviru­s pandemic, civil unrest related to protests over racial justice and worries about a potentiall­y disputed presidenti­al election on Nov. 3 have created a surge in gun demand this year.

A victory by Biden and his vice presidenti­al running mate Kamala Harris, who favor increased gun regulation, could further stoke demand for firearms and shares of firearms makers particular­ly if Democrats wrest control of the Senate from Republican­s, giving them majorities in both houses of Congress and making it easier to approve legislatio­n.

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