Gun stocks sink as Dems reintroduce bill to expand background checks
Major gun manufacturers were trading lower near the end of Wednesday's session
Sen. Chris Murphy, D-Conn., reintroduced a bill on Tuesday to expand background checks for all firearm purchases sending gun stocks lower during Wednesday’s trading session.
Under Murphy’s bill, The Background Check Expansion Act, all sellers – including unlicensed or private sellers – would be required to conduct background checks regardless of where the transaction is carried out.
“Joe Biden and hundreds of congressional candidates from both parties ran on the issue of background checks,” Murphy said in a statement. “This is the year to get this bill passed into law.”
Exceptions include firearm transfers between law enforcement officers, temporarily loaning a firearm for hunting and sporting events, providing firearms as gifts to immediate family members, transferring a firearm as part of an inheritance and temporarily transferring a gun for immediate self-defense.
DEMOCRATS' PUBLIC GUN REGISTRY BILL BLASTED AS 'FRIGHTENING,' ‘ANTI-POLICE’
There are about 45 Democratic cosponsors of the bill in the Senate.
A similar bill was reintroduced in the House as well.
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Smith & Wesson Brands, Sturm, Ruger and Vista Outdoor were all trading lower near the end of Wednesday’s session.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SWBI | SMITH & WESSON BRANDS | 16.89 | -0.17 | -1.03% |
| RGR | STURM RUGER & CO. INC. | 46.24 | -0.18 | -0.39% |
| VSTO | VISTA OUTDOOR INC. | 34.68 | +0.21 | +0.61% |
President Biden supports background checks for all gun sales.
As previously reported by Fox News, there is a separate Democratic-sponsored proposal to create a public gun registry – among other criteria – which has drawn scrutiny from retired law enforcement officers over potential risks.