JUPITER, FL - Safety Shot, Inc. (NASDAQ:SHOT), the creator of a patented wellness beverage designed to reduce blood alcohol content, announced today that the Nelk Boys, a prominent entertainment group, have become brand ambassadors for the company.
The Nelk Boys, known for their YouTube channels and social media presence, including over 10 million subscribers and 4.3 million Instagram followers, will collaborate with Safety Shot on product promotions and activities.
The partnership is expected to leverage the Nelk Boys' significant online influence to boost awareness of Safety Shot's product, which is marketed as a solution for reducing the effects of alcohol consumption.
The beverage, which is said to work in as little as 30 minutes, includes ingredients aimed at improving the body's processing of alcohol, maintaining hydration, and enhancing mental clarity with a blend of nootropics and vitamins.
Safety Shot's Chief Revenue Officer, Josh Wagner, expressed enthusiasm about the new collaboration, anticipating joint promotional efforts. The company's product has been on the retail market since early December 2023 and is available on their website and Amazon (NASDAQ:AMZN). Plans for expanding sales to distributors, retailers, restaurants, and bars are set for the course of 2024.
This partnership announcement is based on a press release statement from Safety Shot, Inc. and does not constitute an endorsement of the company's claims. The effectiveness of Safety Shot's product and the outcome of the partnership with the Nelk Boys will be observed as the company continues its market activities.
InvestingPro Insights
In the wake of the new partnership between Safety Shot, Inc. (NASDAQ:SHOT) and the Nelk Boys, InvestingPro insights reveal some key financial metrics and strategic tips that could be of interest to investors considering the company's potential. Safety Shot, which touts a patented wellness beverage, has caught attention not only for its unique product but also for its financial position and market performance.
According to InvestingPro data, Safety Shot has a market capitalization of $119.17 million USD, reflecting its size and market value within the industry. Despite being unprofitable over the last twelve months, with a negative gross profit margin of -36.74%, the company has experienced significant sales growth, with revenue increasing by 68.01% in the same period. This could indicate potential for future profitability as the company scales its operations.
An InvestingPro Tip highlights that Safety Shot holds more cash than debt on its balance sheet, which could be a sign of financial stability and the ability to fund future growth initiatives without the need for additional debt financing. Additionally, the company has seen a high return over the last year, with a 531.09% one-year price total return, suggesting strong investor confidence and market momentum for its stock.
Nevertheless, it's worth noting that Safety Shot's stock trades with high price volatility, which could mean higher risk for investors. The stock price has also experienced large fluctuations, including an 87.8% increase over the last six months, yet it is currently trading at 30.8% of its 52-week high.
For investors interested in a deeper dive into Safety Shot's financial health and market position, InvestingPro offers additional tips and real-time metrics. By using the promo code PRONEWS24, users can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further insights. Currently, there are 13 additional InvestingPro Tips available for Safety Shot, which could provide further strategic perspectives for assessing the company's potential in the wellness beverage industry.
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