JUPITER, Fla. - Safety Shot, Inc. (NASDAQ:SHOT), a wellness and dietary supplement company, has announced a new partnership with Huckster, Inc. to distribute its alcohol-reducing beverage, Sure Shot, across the Chicago metropolitan area. The product, which claims to reduce blood alcohol content and enhance mental clarity, will now be available in over 450 stores throughout metro Chicago and southern Wisconsin.
Sure Shot is marketed as the first beverage specifically designed to support the body's metabolic processes in processing alcohol, with a formula containing B vitamins, antioxidants, electrolytes, and nootropics. The company reports that the beverage can reduce blood alcohol content within 30 minutes.
The distribution agreement leverages Huckster's expertise in direct-to-store distribution, aiming to increase the visibility and availability of Sure Shot in a key U.S. market. Huckster services a variety of retailers, including 7-Eleven stores, liquor stores, convenience stores, and tobacco shops. The product will be placed strategically at checkout counters to encourage impulse purchases.
Safety Shot CEO Jarrett Boon expressed confidence in the partnership's potential to enhance the product's market presence. "We are thrilled to be partnering with Huckster to expand Safety Shot's footprint in the U.S. market," Boon stated.
The recent patent award and positive clinical study results have bolstered the company's positioning of Sure Shot as an innovative solution for health-conscious social drinkers. The company has also indicated plans to introduce business-to-business sales throughout 2024, targeting distributors, retailers, restaurants, and bars.
While the press release includes forward-looking statements regarding the product's development and market potential, these statements involve risks and uncertainties. Safety Shot's ability to deliver on these expectations remains subject to market reception and regulatory compliance.
The information presented in this article is based on a press release statement from Safety Shot, Inc. The company continues to focus on expanding the reach of its patented wellness product, Sure Shot, which is also available for purchase online and on Amazon (NASDAQ:AMZN).
In other recent news, Safety Shot, now rebranded as Sure Shot, has been making significant strides in the wellness and dietary supplement market. The company has recently expanded its retail presence, launching its Sure Shot beverage in several grocery stores across Chicago. The product, which is designed to reduce blood alcohol content and boost mental clarity, is now available in Pete's Fresh Market, Caputo's, Tony's Fresh Market, Festival Foods, and Sunset Foods.
Sure Shot has also made headway with its rebranding initiative, introducing a refreshed visual identity and improved product taste. The company has expanded its product lineup to include portable 4-ounce bottles and on-the-go powder stick packs. Sure Shot has also secured a U.S. patent for a formula designed to rapidly reduce blood alcohol content.
In a significant distribution milestone, Sure Shot's product will soon be available in 315 7-Eleven stores across the Chicago area. 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 entered several 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 recent developments reflect Sure Shot's commitment to growth and innovation in the functional beverage space.
InvestingPro Insights
Safety Shot, Inc. (NASDAQ:SHOT) is making significant strides in expanding its market presence, but investors should be aware of the company's financial position and market performance. According to InvestingPro data, Safety Shot's market capitalization stands at $66.44 million, reflecting its current market valuation.
The company's aggressive expansion strategy aligns with its impressive revenue growth. InvestingPro data shows that Safety Shot's revenue grew by 128.94% over the last twelve months as of Q2 2024, with a remarkable quarterly revenue growth of 2947.59% in Q2 2024. This explosive growth supports the company's efforts to penetrate new markets, such as the Chicago metropolitan area.
However, investors should note that Safety Shot is currently not profitable, as indicated by its negative P/E ratio of -1.97 for the last twelve months. This is consistent with the company's focus on growth and market expansion rather than immediate profitability.
InvestingPro Tips highlight that Safety Shot "holds more cash than debt on its balance sheet" and that "liquid assets exceed short-term obligations." These factors provide the company with financial flexibility to support its expansion plans and product distribution efforts.
It's worth noting that Safety Shot's stock has shown strong performance over the last three months, with a price total return of 54.23%. However, the stock has also experienced high volatility, which aligns with the InvestingPro Tip indicating that the "stock generally trades with high price volatility."
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Safety Shot, providing a deeper understanding of the company's financial health and market position.
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