I’ve been getting some questions about my recommendation on BYRN (Byrna Technologies) back on January’s episode of Publisher’s Roundtable.
So, I thought it would be a good time to revisit this stock and give you some insights into my process and what I see in store for it.
You might remember that I pointed out BYRN when it was trading around $7. Since then, it ran up as high as $15 — more than a 200% return in a short period of time.
Naturally, after such a big run, it corrected back, but I still see a lot of potential upside.
I first heard about Byrna when my wife brought it to my attention.
She was looking into their products, specifically the Byrna gun, which is essentially a high-tech paintball gun.
She liked the concept of a non-lethal self-defense option, and that got me curious.
I started digging into the company and found that it was a standalone entity with a solid product that could appeal to a broad market, particularly women who might be hesitant to carry a traditional firearm.
As I said, while we got in early and it quickly ran up to $15, after such a quick rise, it’s only natural to expect a pullback.
And it sure has pulled back, where it currently sits just above $10 per share.
But that’s not the end of the story for Byrna. As long as it holds above the $9 area, I think it’s still a buy.
In the longer term, I can see this stock reaching $25 to $30.
What’s also exciting is that Byrna recently signed a deal with the Argentinian police to supply them with Byrna guns.
This kind of expansion into law enforcement could be a game-changer. I believe they’ll continue to penetrate more markets and municipalities, driving further growth.
For those who are already in, I suggest holding onto it.
For new investors, consider selling puts to acquire it at a lower price and take advantage of the potential upside.
This approach has worked well for me in the past, and I believe BYRN has a bright future ahead.
Remember, investing in stocks often means looking beyond the numbers and considering the practical appeal of a product. If it’s something you or your loved ones find valuable, chances are others will too.
I’ll talk more about that in a future update.
Stay tuned for more updates and insights on potential market movers.
— Geof Smith
P.S. Just yesterday, Nate Tucci revealed his aggressive strategy to target 200% gains this week. Click here to learn more about it.
