New York (CNN Business) Joe Biden's projected White House win could boost gun sales in what has already been a landmark year for gun makers. "The election of a Democratic president who has promised to tighten gun control legislation could very well prompt increased demand for firearms," says Rommel Dionisio, managing director of Aegis Capital. Dionisio says gun owners' fears of Democrats passing gun control legislation fuels a predictable surge in sales before and after elections. Gun sales spiked after President Barack Obama's successful 2008 and 2012 campaigns. The previous record of 15.7 million guns sold in a calendar year was set in 2016, when polling suggested that Hillary Clinton would win the presidency, motivating many people to stock up on firearms, according to Mark Oliva, director of public affairs for the National Shooting Sports Foundation, a trade group that tracks and analyzes gun sales.

Source: CNN November 12, 2020 14:48 UTC