JUPITER, Fla. - Safety Shot, Inc. (NASDAQ:SHOT) has released a new 4 oz. bottle of its Sure Shot beverage, aimed at reducing blood alcohol content and enhancing mental clarity. The product is now available in over 300 locations of a leading Midwestern grocery chain, recognized for customer satisfaction and product selection.
Sure Shot is formulated with B vitamins, antioxidants, electrolytes, and nootropics to support the body's natural alcohol metabolism, claiming to reduce BAC in as little as 30 minutes. The company has received a patent for this product and cites positive clinical study results as evidence of its effectiveness.
CEO Jarrett Boon emphasizes the company's mission to provide innovative solutions for a balanced lifestyle, stating that Sure Shot allows individuals to enjoy social gatherings without compromising their well-being. Chief Revenue Officer Josh Wagner highlights the product's convenience and visual appeal, which are expected to drive impulse purchases.
The launch is part of Safety Shot, Inc.'s broader strategy to reach health-conscious consumers and respond to the demand for products that promote responsible drinking and social wellness. The company anticipates that the expansion of Sure Shot's availability will contribute to its continued growth.
Safety Shot, Inc. is a wellness and dietary supplement company that has developed and marketed the first patented product designed to lower blood alcohol content. In addition to online sales, the company is expanding business-to-business sales to distributors, retailers, restaurants, and bars throughout 2024.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, reflecting Safety Shot's expectations and potential risks and uncertainties. Factors that could affect the company's ability to develop and market its product include compliance with laws, product liability claims, and other risks detailed in Safety Shot's filings with the Securities and Exchange Commission.
The information for this article is based on a press release statement from Safety Shot, Inc.
In other recent news, Sure Shot, previously known as Safety Shot Inc., announced a significant expansion of its retail presence in the Chicago area. The company's wellness and dietary supplement beverage, which claims to reduce blood alcohol content and enhance mental clarity, will now be available in over 450 stores across metro Chicago and southern Wisconsin due to a new partnership with Huckster, Inc. Sure Shot has also secured a U.S. patent for its formula and has received positive clinical study results. The company has also divested its wellness consumer products segment to Caring Brands, Inc., allowing it to focus on the commercialization of its patented dietary supplement.
Sure Shot has also entered strategic agreements, including a Securities Purchase Agreement securing $500,000 in gross proceeds, and a consulting agreement with Core 4 Capital Corp. The company has received substantial financial backing from President Jordan Schur through Core 4 Capital Corp., with a total investment of $9.4 million this year. These are all recent developments that highlight Sure Shot's commitment to growth and innovation in the functional beverage space.
InvestingPro Insights
Safety Shot, Inc.'s (NASDAQ:SHOT) recent launch of its 4 oz. Sure Shot beverage in over 300 Midwestern grocery stores marks a significant step in the company's growth strategy. However, investors should consider some key financial metrics and insights when evaluating the company's potential.
According to InvestingPro data, Safety Shot's revenue growth has been impressive, with a 128.94% increase over the last twelve months as of Q2 2024. This aligns with the company's expansion efforts and the growing demand for its innovative products. However, the company's profitability remains a concern, as evidenced by its negative gross profit margin of -203.58% during the same period.
InvestingPro Tips highlight that Safety Shot is quickly burning through cash, which could be attributed to its aggressive expansion and marketing efforts. This rapid cash burn rate is an important factor for investors to monitor, especially as the company seeks to establish its presence in new markets.
On a positive note, Safety Shot holds more cash than debt on its balance sheet, providing some financial flexibility as it pursues its growth initiatives. This could be crucial for supporting the company's expansion plans and product development efforts.
The stock's performance has been volatile, with a strong return of 49.7% over the last three months, contrasting with a significant decline of 60.56% over the past year. This volatility reflects the market's uncertain stance on the company's long-term prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for Safety Shot, providing a deeper understanding of the company's financial health and market position.
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