Everyone loves payday. Just like everyone else, once I get that sweet deposit in the bank it starts burning a hole in my pocket. Before much time I am ready to blow it all on a shopping spree. My store of choice is the stock market, and I’m shopping for the best deals on companies. Here is what I dropped my $1,000 on this Friday, October 12th.
ShotSpotter Inc. (SSTI)
The twenty-first pick of the Let’s Be Millionaires investment series goes to ShotSpotter Inc.
ShotSpotter is a company who’s product corresponds with its name. Shotspotter installs technologies around urban areas that are used to detect and triangulate the location of gunshots.
Several cities have already signed on with ShotSpotter, the most notable of which being Chicago.
Check out this video to learn more.
Check out the ShotSpotter website here.
About The Stock
SSTI has been on a massive tear all year. Although the company went public in June of 2017, I discovered the stock in December of 2017 and didn’t pull the trigger (pun intended). I watched as shares climbed from under $15 a share all the way up to $64 a share in the span of 10 months: an insane 350% return. Since the end of September and the $64 top the stock has had a massive sell-off. Shares are currently trading around $40 a share at the time of writing and I am not going to sit on the sidelines any longer.
The company currently has negative earnings and therefor no positive P/E ratio. The current market cap is around 430 Million dollars.
This stock can be categorized as a domestic, small-cap, tech, high-growth stock.
This company is one of those rare stock stories that for some reason I can’t help but think is going to be a success. I am convinced that over the coming decades this technology will be all over every city in the US and potentially around other countries as well. I think we are going to be the generation of absurd and invasive safety measures. Essentially, as social media and the news push each and every story of violence to appear before our eyes we will become more an more insistent that we are safe as individuals and societies.
I think that this company becomes a multi-billion dollar company for sure and will probably just tuck these shares away to be held for at least a decade.
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