Gun sales, stocks rise after Orlando attack

Jay Wallace, owner of Georgia gun store Adventure Outdoors, discussed an increase in gun sales after the Orlando nightclub attack on Sunday.

Gun Shop Owner: AR-15's Flying Off Shelves at $500 a Pop

By Politics

Since the Orlando nightclub shooting on Sunday, gun sales have rapidly increased throughout the United States.

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Adventure Outdoors Owner Jay Wallace told Fox Business Network’s Stuart Varney that sales of AR-15s and other firearms have “really kicked up” since Sunday.

AR-15’s may look like military rifles but they are actually semi-automatic guns, which means they can only fire one round with each pull of the trigger. By contrast, military-style guns have the ability to fire multiple rounds with one pull of the trigger. The ‘AR’ in AR-15 actually stands for ArmaLite rifle, named after the company that developed it and does not stand for “assault rifle,” according to the National Shooting Sports Foundation.

Wallace claimed that he has sold more than 15 AR-15’s per hour and may know the reasons as to why there is such a rise in sales.

“[People] are afraid that the government is going to take [guns] away and there are folks that are in fear because of the times that we are living in today and those are two big reasons,” he said.

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Wallace said some people buy the guns for profit gain as well.

“There are also those that feel that the guns are going to go up in value so they buy them for investment,” he said. “[AR-15s] start out around $500 and go up to $3,000,” he said

Wallace said the last time he had seen such a surge in gun sales was when President Obama was first elected into office.

 

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