Guns and Magazines: Panic Buying

December 20th, 2012

4K for an AR-15??? Really?

Via: Bloomberg:

With President Barack Obama endorsing sweeping gun restrictions in the wake of the school shootings in Newtown, Connecticut, prices for handgun magazines are surging on EBay (EBAY) and semi-automatic rifles are sold out at many Wal-Mart Stores Inc. (WMT) locations.

…

On EBay Inc.’s auction website, shoppers have recently bid up gun magazines. The current bid for four Glock handgun magazines, ammunition for one of the guns used at Newtown, is $118.37 compared with $45 on the day before the shooting. The bid for seven Glock magazines hit $201 on Dec. 17 from $71.01 before the massacre.

Gun buyers have flooded other firearms retailers too. The Hyatt Gun Shop in Charlotte, North Carolina, racked up more than $1 million in sales yesterday for the best single-day performance since the store opened in 1959, according to Justin Anderson, director of online sales. At the top of shoppers’ lists was the Bushmaster AR-15, the model of rifle used at Newtown that sells for as much as $4,000 and had almost sold out, he said.

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One Response to “Guns and Magazines: Panic Buying”

  1. prov6yahoo says:
    December 21, 2012 at 5:52 pm

    I was at the Academy Sports gun counter this past Tuesday, and business was brisk.

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