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Is Hillary Clinton’s Lead Selling Guns for Smith & Wesson?

At some point, demand for firearms in the U.S. has to reach a saturation point. We haven’t hit that point yet.

More than 300 million firearms are already in private hands in this country. But that’s apparently not enough. On Sept. 1, Smith & Wesson Holding Corp. reported a startling 40 percent jump in sales and a doubling of profit for the first quarter of its fiscal year. Chief Executive Officer James Debney credited “strong consumer demand,” as well as Smith & Wesson’s ability to grab more market share.

A more particular theory that I’ve heard from gun industry insiders is that firearm owners have resigned themselves to the election this November of Democratic Party presidential nominee Hillary Clinton. The argument from industry experts like Richard Feldman, president of the Independent Firearm Owners Association, goes that, having concluded Clinton will defeat her Republican opponent, Donald Trump, gun enthusiasts are running out to buy one more firearm before she has a chance to push her oft-articulated gun-control agenda. That includes banning semiautomatic assault weapons, removing liability protections enjoyed by gun manufacturers, and...