JUPITER, FL - Safety Shot, Inc. (NASDAQ:SHOT), a wellness and dietary supplement company, announced Monday the launch of its formula in a new 4-ounce bottle format, aimed at providing consumers with a more convenient way to access its product. The company's beverage, known for its combination of B vitamins, antioxidants, electrolytes, and nootropics, is marketed as a means to enhance mental clarity, energy, and mood.
According to the company, Safety Shot is the first beverage designed to support the metabolism of blood alcohol content, claiming to produce results in as little as 30 minutes. The smaller bottle size is intended to cater to individuals with active lifestyles, allowing them to easily incorporate the benefits of Safety Shot's formula into their daily routines.
Josh Wagner, Chief Revenue Officer of Safety Shot, expressed enthusiasm about the new offering, stating that the 4-ounce bottles are designed to integrate seamlessly into any lifestyle, providing customers with the option to carry the formula conveniently.
The newly packaged product is expected to hit the shelves in Q3 and will be distributed in convenience stores and liquor stores across the United States where Safety Shot products are currently available.
Safety Shot, Inc. has positioned itself as a pioneer in the wellness and dietary supplement market with the introduction of its patented product. The company has plans to expand its business-to-business sales throughout 2024, targeting distributors, retailers, restaurants, and bars.
This announcement is based on a press release statement from Safety Shot, Inc., and the new 4-ounce bottles will join the company's existing product lineup, which is also available for purchase online and on Amazon (NASDAQ:AMZN).
InvestingPro Insights
In the wake of Safety Shot, Inc.'s announcement to launch its wellness beverage in a more convenient 4-ounce bottle, the company's stock has been subject to market scrutiny. Despite the potential for increased consumer accessibility and market penetration with this new offering, InvestingPro data suggests a challenging financial landscape for the company.
With a market capitalization of $63.08 million, Safety Shot is a relatively small player in the wellness and dietary supplement industry, which is reflected in its valuation metrics. The company's Price / Book ratio as of the last twelve months ending in Q1 2024 stands at a high 11.32, indicating investors may be paying a premium for what the assets are worth on paper.
Furthermore, the company's financial health raises some concerns. The substantial negative gross profit margin of -678.6% in the same period suggests that Safety Shot is struggling to translate sales into gross profit. Moreover, the significant decline in revenue growth, with a -94.87% change in the last twelve months ending in Q1 2024, could be indicative of underlying issues in the company's ability to maintain sales. This is corroborated by a severe drop in the stock price, with a 74.85% decrease over the last six months.
However, an InvestingPro Tip highlights that Safety Shot holds more cash than debt on its balance sheet, which could offer some financial flexibility in the short term. Moreover, analysts anticipate sales growth in the current year, suggesting that initiatives such as the new 4-ounce bottle could potentially drive a turnaround in sales performance.
On the flip side, the same InvestingPro Tips also point out that the company is quickly burning through cash and trades with high price volatility, which investors should consider when evaluating the stock's risk profile.
For those interested in a deeper analysis, InvestingPro offers additional tips on Safety Shot, Inc. to help investors make more informed decisions. By using the coupon code PRONEWS24, readers can obtain an extra 10% off a yearly or biyearly Pro and Pro+ subscription. Find out more about these insights and how they might impact the company's future at https://www.investing.com/pro/SHOT, where there are 14 additional InvestingPro Tips available.
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