NEW YORK - Safety Shot, Inc. (NASDAQ:SHOT), known for its patented wellness product that claims to lower blood alcohol content, announced its strategic expansion into New York City, Long Island, and The Hamptons. This move is part of the company's efforts to increase its brand presence in key Northeast markets ahead of the summer season.
The expansion will focus on high-volume liquor stores, bodegas, bars, and restaurants to reach a diverse customer base. To support this growth, Safety Shot has partnered with market experts with over 30 years of industry experience. Josh Wagner, the Chief Revenue Officer of Safety Shot, who has a background as the former Head of Sales for Anheuser Busch InBev's liquor channel and independents, will lead the company's expansion efforts.
Mr. Wagner expressed optimism about the launch, stating that establishing a presence in these significant markets before the summer could help the company capitalize on increased demand and enhance brand recognition.
The initial phase of Safety Shot's distribution will see its products available at GoPuff locations throughout the targeted regions, with plans to extend to other areas in the Northeast. The company aims to introduce Safety Shot to distributors, retailers, restaurants, and bars throughout 2024.
Safety Shot, Inc. positions itself as a wellness and dietary supplement company, offering the first product of its kind that supports alcohol metabolism while purportedly improving clarity, energy, and mood.
This expansion announcement is based on a press release statement.
InvestingPro Insights
As Safety Shot, Inc. (NASDAQ:SHOT) embarks on its strategic expansion into key Northeast markets, the company's financial health and stock performance provide valuable context for investors. According to real-time data from InvestingPro, Safety Shot holds a market capitalization of $76.87 million USD, which reflects investor valuation of the company in light of its recent initiatives.
InvestingPro Tips highlight that analysts are anticipating sales growth in the current year, which may align with the company's expansion plans and efforts to increase brand presence. This optimism is further supported by a significant return over the last week, with a 16.41% price total return, showcasing a strong short-term investor confidence in the company's prospects.
The real-time metrics also reveal that Safety Shot has experienced a substantial revenue growth of 68.01% in the last twelve months as of Q4 2023, indicating that the company is expanding its top-line at a robust pace. However, it's worth noting that the company has negative gross profit margins of -36.74% and has not been profitable over the last twelve months, which could be a concern for potential investors looking at long-term profitability.
Safety Shot's stock generally trades with high price volatility, as evidenced by its price movements over various time frames, including a -30.7% return over the last month and a -49.49% return over the last three months. Despite these swings, the stock has had a high return over the last year at 323.73%, suggesting that while the stock has its ups and downs, it has provided significant gains for investors over a longer period.
For investors interested in deeper analysis and more InvestingPro Tips, there are additional insights available on https://www.investing.com/pro/SHOT. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert analysis to help make informed decisions. With 15 additional InvestingPro Tips listed for Safety Shot, Inc., investors can gain a comprehensive understanding of the company's financial position and market potential.
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