The buying spree — it started right after last November’s election — has drained the reserved of most types of ammunition at all levels of retailers, CNN reports. Even large retailers like Walmart (NYSE;WMT) and Cabela’s (NYSE:CAB) are limiting purchases or seeing their supplies sell out the day they get deliveries.
With the higher demand has come a higher cost. A standard box of 50 bullets for an assault rifle used to cost $12. Now the bullets are selling for $50 per box. Even so, bullet manufacturers are working around the clock to try to meet demand. An answering machine message at one factory simply says, “call volume, order volume and demand for product has increased dramatically.”
Industry experts pin the increased demand on the ongoing gun control debate and the aftermath of the recent school shootings. “It started right around the election, as soon as President Obama mentioned gun control. But right after the school shooting in Connecticut, that’s when it went crazy,” said Mark Campbell, the owner of a gun shop in St. Louis.