Bump stock prices skyrocket after president proposes ban

Bump stock prices skyrocket after president proposes ban
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Bump stock prices have spiked following President TrumpDonald John TrumpPelosi arrives in Jordan with bipartisan congressional delegation Trump says his Doral resort will no longer host G-7 after backlash CNN's Anderson Cooper mocks WH press secretary over Fox News interview MORE's directive on Tuesday that the Justice Department (DOJ) draft regulations to ban the devices.

Bump stocks can be used to allow semi-automatic guns to fire at speeds similar to automatic guns.

After Trump’s proposed ban, bump stock prices quickly rose on the firearms auction website Gun Broker, Bloomberg reported.

Some bump stocks were being listed for anywhere from just above retail prices of less than $200 to as much as $1,000, with some saying "Get them while you can," according to Bloomberg.

Trump’s decision on bump stocks comes days after a school shooting in Florida left 17 dead and 14 others wounded. Public outcry has pressured lawmakers to take action to address gun violence.

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The alleged shooter in Florida does not appear to have used a bump stock during his attack with an AR-15 rifle.

“We can do more to protect our children. We must do more to protect our children,” Trump said during the announcement of the DOJ directive at the White House.

White House press secretary Sarah Huckabee Sanders at a Tuesday press briefing said the president does not support the use of bump stocks and that further action will follow.

Bump stocks became a focus of the gun debate following an October mass shooting at a Las Vegas music festival that left nearly 60 dead and 500 others injured. The shooter in Las Vegas allegedly used bump stocks during his attack.

Prices for the device also rose after the Las Vegas shooting as Congress mulled putting restrictions on them.