JUPITER, Fla. - Safety Shot, Inc. (NASDAQ:SHOT), a wellness and dietary supplement company, has announced the launch of its Sure Shot beverage in several Chicagoland grocery stores, marking a significant expansion of its retail footprint. The product, which claims to reduce blood alcohol content and boost mental clarity, will be available in Pete's Fresh Market, Caputo's, Tony's Fresh Market, Festival Foods, and Sunset Foods.
The 4 oz. Sure Shot beverages, priced at $5.99 per unit, will be strategically placed in high-traffic areas of the stores to attract consumer attention. The company aims to leverage the holiday season, a period with traditionally high alcohol sales, to introduce the product to a larger market.
Sure Shot is marketed as the world's first beverage designed to lower blood alcohol content in 30 minutes or less. It is formulated with B vitamins, antioxidants, electrolytes, and nootropics. According to Safety Shot, the product is backed by a recently awarded patent and positive clinical study results.
Jarrett Boon, CEO of Safety Shot, expressed enthusiasm about the expansion, believing that Sure Shot will appeal to health-conscious consumers in the Chicagoland area. Josh Wagner, Chief Revenue Officer, highlighted the importance of the product's strategic shelf placement for driving impulse purchases.
This retail expansion follows Safety Shot's recent initiatives, including a partnership with 7-Eleven stores in the same region and a campaign targeting college students. The company's growth efforts are part of a broader strategy to increase brand awareness and market penetration.
Safety Shot, Inc. has positioned itself as a pioneer in developing products that support responsible drinking. The company's statements about the future of Sure Shot and its market performance are forward-looking and subject to risks and uncertainties.
The information in 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., has made significant strides in the wellness and dietary supplement market. The company has undergone a comprehensive rebranding, introducing a refreshed visual identity and improved product taste. This initiative was led by marketing agency Amalgam in partnership with Stout Design.
Sure Shot has also expanded its product lineup, which includes portable 4-ounce bottles and on-the-go powder stick packs. The company has secured a U.S. patent for a formula designed to rapidly reduce blood alcohol content, bolstering its position in the market.
Sure Shot's product will soon be available in 315 7-Eleven stores across the Chicago area, marking a significant distribution milestone. 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.
Additionally, 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 also received substantial financial backing from President Jordan Schur through Core 4 Capital Corp., with a total investment of $9.4 million this year.
Furthermore, Sure Shot has partnered with Launchpad to target the college market through peer-to-peer marketing on over 100 major campuses. These recent developments reflect Sure Shot's commitment to growth and innovation in the functional beverage space.
InvestingPro Insights
As Safety Shot, Inc. (NASDAQ:SHOT) expands its retail presence in the Chicagoland area, investors may find value in examining the company's financial metrics and market performance. According to InvestingPro data, Safety Shot has shown impressive revenue growth, with a 128.94% increase over the last twelve months as of Q2 2024. This aligns with the company's recent expansion efforts and product launches.
However, it's important to note that Safety Shot is currently not profitable, with a negative gross profit margin of -203.58% over the same period. This suggests that while the company is growing its top line, it faces challenges in controlling costs and achieving profitability.
InvestingPro Tips highlight that Safety Shot holds more cash than debt on its balance sheet, which could provide financial flexibility as it pursues its growth strategy. Additionally, analysts anticipate sales growth in the current year, which may be driven by the company's expanding retail footprint and product placement initiatives.
Investors should be aware that Safety Shot's stock has experienced significant volatility. The stock has seen a 41.7% return over the last three months, but it has also taken a substantial hit over the last six months, with a -29.01% price total return. This volatility is consistent with the InvestingPro Tip indicating that the stock generally trades with high price volatility.
For those considering an investment in Safety Shot, it's worth noting that InvestingPro offers 15 additional tips that could provide further insights into the company's financial health and market position. These additional tips could be particularly valuable given the company's current growth phase and the challenges it faces in achieving profitability.
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