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Update 3:38 p.m.: Add a ShotSpotter comment.
Shot Viewer (NASDAQ:SSTI) sunk 21% amid speculation that Chicago’s newly elected mayor could terminate the city’s contract with the gunshot detection company.
Brandon Johnson, who was elected mayor of Chicago on Tuesday after a second round election with second electoral round, has ssupport who plans to end the use of ShotSpotter (SSTI), as some critics have claimed that it is flawed and can lead to dangerous police interactions.
ShotSpotter CEO Ralph Clark commented in an emailed statement to Seeking Alpha, congratulating Johnson on his victory and saying he is optimistic the company can continue its relationship with Chicago and Mayor-elect Johnson’s administration.
“Over the years, ShotSpotter has worked to alert law enforcement to otherwise unreported shooting incidents, saving lives and improving community confidence in Chicago and other partner cities,” Clark said. in the statement. “We are hopeful that we can demonstrate how ShotSpotter can bring value to Chicago and how it can be a vital component of Mayor-elect Johnson’s holistic approach to addressing gun violence.”
ShotSpotter Short Interest (SSTI) is 3%.
