Safety Shot stock ends 25% down on short seller report

November 22, 2023 02:08 PM PST | By Invezz

Safety Shot stock ends 25% down on short seller report — Image source: Invezz

Why is Capybara short Safety Shot stock?

The short seller raised a “series of red flags” on the nutraceutical beverage company in its report on Wednesday.

Safety Shot Inc claims its detox drink takes thirty minutes to lower BAC or the blood alcohol content by up to 50% which the research firm said is at odds with “how human body processes alcohol”.

Capybara denounced the company’s management as well for a “history of unfulfilled promises” and its ties with Stratton Oakmont – an over-the-counter brokerage that defrauded many shareholders and was eventually closed in 1996.

All in all, the short seller is convinced that $SHOT is disconnected from the fundamentals.

Safety Shot responds to Capybara Research

Later on Wednesday, Safety Shot lambasted Capybara Research for a “willful attempt to scare SHOT investors” with an inaccurate article – just so it can cover its short position.

Note that the short seller is currently facing a lawsuit for manipulating investors into selling shares of FingerMotion Inc. The Nasdaq-listed firm plans on filing a similar case against the investment firm as well.

Brian S. John – its Chief Executive also encouraged anyone who had doubts about the aforementioned detox drink to visit the company’s corporate offices today and test it for themselves.

Safety Shot is now only weeks away from being available on www.Amazon.com and www.DrinkSafetyShot.com. Business-to-business sales to bars, restaurants, retailers, and distributors will then begin in the first quarter of next year.

The post Safety Shot stock ends 25% down on short seller report appeared first on Invezz

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