JUPITER, Fla.—Christopher Melton, a director at Safety Shot, Inc. (NASDAQ:SHOT), recently sold 3,470 shares of the company's common stock. The shares were sold at an average price of $0.855 each, amounting to a total transaction value of approximately $2,966. The sale comes as the stock trades near $0.75, down over 80% in the past year. According to InvestingPro analysis, the company currently shows signs of being undervalued despite significant market volatility. Following this sale, Melton retains ownership of 62,530 shares.
Earlier in the reporting period, Melton acquired 66,000 shares of common stock through the exercise of stock options. These options were exercised at a price of $0.25 per share, as part of the company's 2021 Incentive Equity Plan. The options, originally set to expire in July 2022, had their expiration date extended to December 31, 2024, following a board resolution.
In other recent news, Sure Shot, formerly known as Safety Shot Inc., has made significant strides in expanding its retail presence. The company's patented wellness and dietary supplement beverage, designed to reduce blood alcohol content and enhance mental clarity, is now available in over 450 stores in metro Chicago and southern Wisconsin, due to a new partnership with Huckster, Inc. In addition, Sure Shot's products will be available in 315 7-Eleven stores across the Chicago area.
The company has also recently divested its wellness consumer products segment to Caring Brands, Inc., allowing it to focus on the commercialization of its patented dietary supplement. Sure Shot has secured strategic agreements, including a Securities Purchase Agreement securing $500,000 in gross proceeds, and a consulting agreement with Core 4 Capital Corp. The company has received substantial financial backing from President Jordan Schur through Core 4 Capital Corp., with a total investment of $9.4 million this year.
These are all recent developments that highlight Sure Shot's commitment to growth and innovation in the functional beverage space.
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