It turns out gun makers like Smith & Wesson Holding Corp SWHC 2.34% and Sturm, Ruger & Company RGR 0.85% may not have had as bad of an August as the FBI background check data for the month seemed to indicate. Gun stocks have sold off hard in recent weeks following the release of the National Instant Criminal Background Check System (NICS) data for August.
The NICS data revealed 1,853,815 checks in August. While that number represents a new August record, it also marks the first time in the history of NICS data that checks declined month-over-month in August.
After a Seeking Alpha writer reported that the state of Kentucky single-handedly fell 300,000 checks short of its normal baseline NICS total in August, Benzinga reached out to the FBI for clarification. Kentucky typically submits background checks on existing permit holders.
The FBI told Benzinga that Kentucky “was asked to delay their permit re-checks for a few days due to the implementation of new NICS in early August.”
Kentucky officials did not immediately respond to requests for clarification on when those delayed August checks will be reported.
For now, it seems…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
