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Replace at 3:38 p.m: Provides a ShotSpotter remark.
ShotSpotter (NASDAQ: SSTI) sunk 21% amid hypothesis that Chicago’s newly elected mayor might finish town’s contract with a gunshot detection firm.
Brandon Johnson, who was elected mayor of Chicago on Tuesday after a runoff elections with the second spherical of elections, my passist that he plans to cease utilizing ShotSpotter (SSTI), as some critics argue that it’s flawed and will result in harmful police interactions.
ShotSpotter CEO Ralph Clark commented in an announcement emailed to Looking for Alpha, congratulating Johnson on the win and saying he’s optimistic the corporate can proceed its relationship with Chicago and Mayor-elect Johnson’s administration.
“For years, ShotSpotter has labored to alert legislation enforcement to taking pictures incidents that might in any other case go unreported, saving lives and rising neighborhood confidence in Chicago and different accomplice cities,” Clark stated in an announcement. “We sit up for demonstrating how ShotSpotter can finest profit Chicago and the way it may be an important part of Mayor-elect Johnson’s complete technique to fight gun violence.”
ShotSpotter (SSTI)’s quick curiosity is 3%.
