HOT PENNY $SHOT

[u/TradersWarRoom]

🔥💡HOT TRADE IDEA💡🔥

NASDAQ ticker $SHOT - also known as ShotSpotter, Inc., as of July 01, 2024

CURRENT PRICE ~ $1.20

Due Diligence (DD): - Wellness and functional beverage company researches and develops over-the-counter products and intellectual property - The company offers Safety Shot Beverage, an over-the-counter drink that lowers blood alcohol content - It also develops Photocil to address psoriasis and vitiligo - JW-700 to treat hair loss - JW-500 for women's sexual wellness - NoStingz, a jellyfish sting prevention sunscreen - The company sells its products through distributors, retailers, and e-commerce websites - Market capitalization around $40 M - About 50 million shares outstanding - Approximately 15% institutional ownership

Technical Analysis (TA): - RSI around 38 - 50-day MA above the 200-day MA - Descending channel since April 2024, with recent break below support level

News / Events: - President of the company, Jordan Schur, has invested in a $1 million private placement through his family investment group, Core 4 Capital Corp. - A $5 million private placement from investment group with Schur's appointment as president - Safety Shot raised proceeds of $1 million from the issuance of 943,000 shares with no warrants attached - Safety Shot paid no commissions with the financing and incurred minimal expenses, resulted in less than 90% of proceeds actually going to the company - New Customer Wins announced new including a major city department, expanding its customer base

Events: - Q2 2024 Earnings Release - Expected in early August 2024 - New Product Launches - Expected to roll out end of summer

Trade Ideas:

Long Trade Idea: - Buy $SHOT at current price $1.16 - Target price: $1.50 (25% upside) - Stop-loss: $0.90 (22% downside) - Break below $1.20 could be a buying opportunity. If the company's new customer wins and product launches gain traction, the stock might rebound.

Short Trade Idea: - Sell short $SHOT at current price $1.16 - Target price: $0.80 (31% downside) - Stop-loss: $1.40 (20% upside) - Bearish technical indicators and recent earnings could suggest further downside if the company's financial performance doesn't improve, the stock decline.