Safety Shot Claps Back At Short Sellers: 'Trying Safety Shot Is Believing In Safety Shot'
Portfolio Pulse from Adam Eckert
Safety Shot Inc (NASDAQ:SHOT) responded to a short report by Capybara Research, which led to a selloff in SHOT shares. The report questioned the legitimacy of Safety Shot's flagship product and the company's founders. Safety Shot called the report malicious and defamatory, highlighting past lawsuits against Capybara Research for fraudulent articles. CEO Brian John invited skeptics to try the product and urged investors to conduct due diligence. Safety Shot's beverage, aimed at reducing blood alcohol content, is launching in December. Despite the selloff, SHOT is up 460% YTD.
November 22, 2023 | 6:29 pm
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NEUTRAL IMPACT
Safety Shot Inc (SHOT) experienced a selloff due to a negative short report by Capybara Research, but the company has refuted the claims and plans legal action. The CEO has publicly defended the product and company, and the stock remains significantly up YTD.
While the short report has caused a temporary selloff, the strong rebuttal from Safety Shot's CEO and the company's legal stance against Capybara Research may mitigate the negative impact. The product's upcoming launch and the stock's significant YTD gains suggest underlying investor confidence, which could stabilize the stock in the short term.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100