Dick’s pulls some guns; investing firm sells stock in arms

by Jim McElhatton, The Washington Times  |  published on December 20, 2012

Dick's

Even amid reports of many Americans scrambling to buy guns, a major sporting goods chain suspended sales of some of its semi-automatic guns Tuesday while an investment firm moved to sell off a company whose rifle was reportedly used in last week’s attack at a Connecticut elementary school.

The fallout came as stock prices of gun makers tumbled, despite reports that many people — perhaps foreseeing tighter gun control laws ahead — moved quickly to buy guns in the aftermath of the shooting spree in which 27 victims died last week.

In Iowa, one gun dealer told the Des Moines Register he had sold a half-dozen assault rifles since Friday and that demand for guns is high everywhere.

Officials at the Colorado Bureau of Investigations reported a record number of people seeking background checks so they could buy guns. The staff was so swamped that officials had to call for extra help as the waiting periods for thousands increased from a typical 15 minutes to nearly a day, the Denver Post reported.

And a San Diego television station, NBC7, reported an increase in sales as customers anticipate new gun laws.

Still, amid the reports of increasing demand, Dick’s Sporting Goods suspended sales of some of its rifles while removing all of the guns on display at a store not far from Newtown, Conn., where the attack was carried out.

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