The Jupiter Wellness Inc (NASDAQ: JUPW) stock price rallied 104% after announcing that it had signed an asset purchase agreement with GBB Drink Lab Inc. to acquire all its operating assets, including the revolutionary Safety Shot beverage, an alcohol hangover cure.
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Investors cheered the announcement that leaves Jupiter as the sole owner of Safety Shot, a beverage that induces rapid alcohol detoxification in the fast-growing hangover remedy market. The product is protected by several patents, with some patents still pending.
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A doctor created Safety Shot to help the human body break down alcohol faster while aiding in recovery and rehydration. The product is formulated with scientifically proven ingredients that stop the body from absorbing alcohol into the bloodstream.
Safety Shot reduces the Blood Alcohol Content (BAC) and quickly gets people out of an intoxicated state. Given the rising global alcohol consumption, consumers know the benefits of using medically-designed hangover cure products.
The global industry for hangover cures is expected to grow to US$4.67 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.6% from 2021 to 2028.
The acquisition adds to Jupiter Wellness’ expanding product portfolio that includes JW-700 to treat hair loss; Photocil to address psoriasis and vitiligo; JW-500 for women's sexual wellness; NoStingz; JW-110 for the treatment of atopic dermatitis/eczema and a jellyfish sting prevention sunscreen.
Jupiter Wellness CEO Brian John stated: “The world-first breakthrough nature of Safety Shot and the market it addresses are a tremendous opportunity that Jupiter will effectively execute upon. This asset purchase is a truly transformational transaction for the Company and its shareholders.”
*This is not investment advice.
The Jupiter Wellness (JUPW) stock price.
The Jupiter Wellness (PUPW) stock price rallied 103.98% to trade at $0.7468, from Friday’s closing price of $0.3661.
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