Bloomberg data shows that the FBI's National Instant Criminal Background Check System (NICS) checks are at their lowest level for this time of year since pre-Covid. This data suggests that the gun-buying bubble, which peaked during the Covid and BLM riots, continues to deflate until the next round of Marxist groups spark riots in America.
US unadjusted criminal background checks dropped 10% to 2.13 million in May. This is the lowest level in eight months, and compared with the same month a year earlier, down 17% from 2.55 million.
On a seasonal basis, this is the lowest May level since May 2019 and well below the 5-year average.
NICS data is a proxy for gun sales because there is no national database tracking firearm purchases.
That said, gun and ammo stocks, such as Sturm Ruger & Co. Inc. and Smith, Wesson Brands Inc., and Ammo Inc., have positively correlated with rising NICS and falling NICS.
What will spark the next panic buying?
