JUPITER, FL - Safety Shot, Inc. (NASDAQ:SHOT), a wellness and dietary supplement company, has announced a partnership with Capital Drugs, marking a significant expansion of its retail presence across the United States.
Capital Drugs, a pharmacy chain with 300 locations nationwide, will now stock Safety Shot, a vitamin-packed wellness beverage, in all of its stores.
This partnership is part of Safety Shot's strategic initiative to increase its product availability and align with retailers that cater to health-conscious consumers.
Capital Drugs is recognized for offering a comprehensive range of health services and products, including pharmaceuticals, clinical services, and alternative medicine options such as supplements and vitamins.
Josh Wagner, Chief Revenue Officer at Safety Shot, emphasized the importance of the partnership, stating that having Safety Shot available in Capital Drugs pharmacies is crucial for connecting with consumers who value wellness and functional beverages.
Safety Shot's expansion into Capital Drugs pharmacies follows the company's recent growth in the Northeast, with product distribution extending through New York and New Jersey via broker Prime CBS, as well as partnerships with GoPuff, BevMo, and other retailers.
The company's product, Safety Shot, is touted as the first patented wellness product designed to lower blood alcohol content by supporting its metabolism while also enhancing clarity, energy, and mood. In addition to being available in retail stores, Safety Shot can be purchased online at DrinkSafetyShot.com and Amazon (NASDAQ:AMZN).
The company is actively pursuing business-to-business sales channels throughout 2024, targeting distributors, retailers, restaurants, and bars to further its market reach.
This expansion represents a key milestone in Safety Shot's nationwide availability rollout and partnership expansion strategy. The information for this article is based on a press release statement from Safety Shot, Inc.
In other recent news, Safety Shot, Inc., a wellness and dietary supplement company, has reported a series of significant developments. The company successfully raised $5 million in funding from Core 4 Capital Corp through a private placement, issuing 2,369,668 shares at a price of $2.11 each.
This funding is intended to support the development of Safety Shot's flagship product, a beverage aimed at rapid alcohol detoxification.
In addition, Safety Shot has announced its expansion into the New York and New Jersey markets via a partnership with Prime CSB, a boutique broker. This move is part of the company's broader strategy to increase its footprint in the Northeast region.
The expansion includes various distribution channels, such as Cash N Carry, wholesale distributors, specialty distributors, and independent supermarkets.
The company has also introduced a new 4-ounce bottle format for its product, designed for individuals with active lifestyles. This new offering is expected to hit the shelves in the third quarter and will be distributed in convenience stores and liquor stores across the United States.
Safety Shot also recently announced a partnership with the Nelk Boys, a prominent entertainment group, to serve as brand ambassadors, aiming to boost product awareness. These are recent developments based on press release statements from Safety Shot, Inc.
InvestingPro Insights
In light of Safety Shot, Inc.'s recent partnership with Capital Drugs, market watchers have noted several financial metrics and strategic factors that may interest investors. With a market capitalization of $72.38 million, Safety Shot is positioning itself as a niche player in the wellness and dietary supplement industry. The company's aggressive retail expansion strategy is reflected in its impressive revenue growth, which has soared by 159.8% in the last twelve months as of Q1 2024, with quarterly growth reaching a staggering 390.78%. This could signal strong market demand for Safety Shot's wellness beverage.
However, it's important to note that despite these growth figures, the company has reported a gross profit margin of -678.6% over the same period, indicating significant costs relative to its revenue. This aligns with one of the InvestingPro Tips that Safety Shot is quickly burning through cash, which investors should consider when evaluating the company's long-term profitability.
Another InvestingPro Tip suggests that Safety Shot's stock price has experienced high volatility, with a 22.81% return over the last week, yet a -61.11% return over the last six months. The stock's price volatility could be seen as an opportunity for high-risk tolerant investors or as a cautionary detail for those seeking more stable investments.
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