by Greg Guenthner, Daily Reckoning.com:
Just call it “peak gun”…
Yes, the gun bubble is finally popping. After years of backorders, heated debates, and fears over strict new laws, the assault rifle binge is beginning to sputter…
“Assault-rifle sales stopped in their tracks,” Jim Hornsby, owner of Mainstreet Guns & Range in Atlanta tells Bloomberg. Hornsby estimated sales of assault rifles are off by a staggering 70% from last year.
“It’s hard to give an AR away,” he says.
Part of the reason for the sharp drop in gun sales is the subsiding fear of new gun control legislation. Despite several high-profile mass shootings taking place over the past few years, lawmakers have not passed any laws that could potentially devastate the American gun industry.
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