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Analysts Were Wrong About the Gun Industry

Two years ago, the FBI reported that it conducted a record number of background checks on potential gun buyers in May, more than it had ever done before for that month. It would launch a 19-month-long streak that would culminate in more than 27.5 million background checks performed in 2016, 20% more than the year before and over two and a half times time the number conducted 10 years prior.

While the November elections seemed to gut that growth, as December's background checks dropped 16% from a year ago followed by a steep 20% drop in January, the numbers have been climbing since. Now that the FBI has reported results for May 2017, it looks as though the firearms industry is back, guns a-blazin'.

59 checks per minute

The law-enforcement agency says it once again conducted a record number of background checks for the month. Some 1.94 million investigations were processed through the National Instant Criminal Background Checks System, or NICS, almost 4% more than last year's record. The stocks of major gunmakers have responded in kind.

Read more at The Motley Fool

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