Biden Admin looks to close loophole in background checks for gun sales, NYT says

The Biden Administration has proposed an expansion of firearms background checks, using a provision of bipartisan gun control law passed last year that mandates thousands of unlicensed brokers register as federally licensed dealers, the New York Times’ Glenn Thrush reports, citing regulations drafted by the Bureau of Alcohol, Tobacco, Firearms and Explosives. The rules are meant to close loopholes involving gun shows and internet purchases and are part of the President’s piecemeal initiatives to enact universal background checks. Publicly traded companies in the space include Smith & Wesson Brands (SWBI), Sturm Ruger (RGR) and Vista Outdoor (VSTO).