JUPITER, Fla. - Safety Shot, Inc. (NASDAQ:SHOT), the company behind the beverage designed to reduce blood alcohol content, announced the upcoming launch of its 4 oz. bottles in 315 7-Eleven stores across the Chicago area. The product, which claims to support alcohol metabolism while enhancing clarity and energy, will be available for purchase at a price of $5.99 per bottle or $10 for two.
The strategic placement of Safety Shot at 7-Eleven, the world's largest convenience store chain, comes ahead of the fourth quarter, traditionally a period of high alcohol sales due to holiday celebrations. CEO Jarrett Boon highlighted the significance of this distribution milestone, emphasizing the potential for increased visibility and sales during the festive season.
Safety Shot, Inc., positions itself as a wellness and dietary supplement company and has patented its product as the first of its kind to lower blood alcohol content. Available online at DrinkSafetyShot.com and Amazon (NASDAQ:AMZN), the company is expanding its business-to-business sales throughout 2024, targeting distributors, retailers, restaurants, and bars.
The press release contained forward-looking statements regarding the product's development and commercialization, cautioning that these are subject to various risks and uncertainties. It also referenced the company's filings with the Securities and Exchange Commission, which detail the potential risks and factors that could impact the company's future performance.
This news is based on a press release statement from Safety Shot, Inc., and reflects the company's current plans for expanding its retail presence in the Chicago metropolitan area, the third-largest in the United States.
In other recent news, Safety Shot, Inc. has reported a series of significant developments. The company has secured a U.S. patent for a formula designed to rapidly reduce blood alcohol content. Safety Shot has also divested its wellness consumer products segment to Caring Brands, Inc., post which it will focus on the commercialization of the Safety Shot Dietary Supplement.
In an effort to enhance its market presence, Safety Shot has partnered with Launchpad to target the college market through peer-to-peer marketing on over 100 major campuses. The company has also finalized several strategic agreements, including a Securities Purchase Agreement securing $500,000 in gross proceeds, and a consulting agreement with Core 4 Capital Corp.
Safety Shot has received substantial financial backing from President Jordan Schur through Core 4 Capital Corp., with a total investment of $9.4 million this year. The company has also established partnerships with Atlantic Beverage Distributors, Prime CSB, and KeHE Distributors to enhance its product reach across the United States. Lastly, Safety Shot has adopted a new equity incentive plan, approved by shareholders, reserving 15,000,000 shares of common stock for key personnel.
InvestingPro Insights
As Safety Shot, Inc. (NASDAQ:SHOT) prepares to launch its product in 315 7-Eleven stores across Chicago, investors might be interested in some key financial metrics and insights provided by InvestingPro.
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 plans and strategic placement in 7-Eleven stores ahead of the high-sales holiday season. However, it's worth noting that despite this growth, the company is not yet profitable, with a negative gross profit margin of -203.58% over the same period.
InvestingPro Tips highlight that Safety Shot holds more cash than debt on its balance sheet, which could provide financial flexibility as it pursues its expansion strategy. This is particularly important given that another tip indicates the company is quickly burning through cash, a common scenario for growing companies in the early stages of product commercialization.
Investors should be aware that Safety Shot's stock price movements are quite volatile, according to InvestingPro Tips. This volatility is reflected in the stock's performance, with a strong 26.68% return over the last month, contrasting with a significant -51.05% decline over the past six months.
For those considering an investment in Safety Shot, it's important to note that the company does not pay a dividend to shareholders, focusing instead on growth and expansion. Additionally, InvestingPro indicates that there are 13 more tips available for Safety Shot, which could provide further insights for potential investors.
As Safety Shot continues its expansion into retail locations and pursues B2B sales throughout 2024, these financial metrics and insights may help investors better understand the company's current position and potential future performance.
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