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Axios Re:Cap

Behind the gun sales spike

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 14 July 2020

⏱️ 10 minutes

🧾️ Download transcript

Summary

Gun sales in America have surged since the pandemic began, with 7.8 million background checks run for firearms purchases between March and June. Dan is joined by Wall Street Journal reporter Zusha Elinson who has been reporting on the spike in sales, around 40% of which are by first-time buyers, and what is motivating this trend.

Transcript

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0:00.0

Hi, I'm Dan Pramak and welcome to Axios Recap.

0:05.0

Today's Tuesday, July 14th.

0:07.0

COVID test wait times are rising, some tech stocks are falling,

0:11.0

and we're focused on one area of the economy that's actually benefited from the pandemic.

0:17.0

Gun sales.

0:29.4

Usually when we hear about a spike in firearm sales, it's driven by a fear of new gun control laws, often in the wake of a mass shooting.

0:36.4

But America hasn't had a large-scale shooting since the pandemic began, and gun stores have rarely been busier.

0:39.7

Check out these numbers. Background checks in June were up 136% from June of 2019. In Georgia, that figure is more than 300%. In Illinois, gun permit

0:49.0

applications for the first two weeks of June were five times higher than in the same time period last year.

0:56.0

Overall, there were 7.8 million background checks for gun purchases between March and June,

1:02.0

and over that period, Smith and Wesson's stock was up threefold.

1:07.0

It's worth noting, according to a trade association survey, 40% of these gun sales are going

1:12.0

to first-time buyers.

1:14.1

Normally, that figure would be closer to 25%.

1:16.7

So what's happening?

1:18.7

Part of it is that some Americans are just freaked out as the pandemic wreaks havoc on our

1:23.6

way of life.

1:25.1

There are also people who have increased safety fears in the wake of defund

1:29.2

the police movements and rise in gun violence rates in certain large cities. And then there's

1:34.0

President Trump's unpopularity, which increases the likelihood that the White House could soon

1:39.1

be occupied by somebody much more sympathetic to gun control arguments. To dig into this deeper, we are joined

1:45.6

now by Zusha Ellenson, a Wall Street Journal reporter who also is writing a book about the

...

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