ShotSpotter Stock: Fighting Crime in Smart Cities
They say you should never discuss religion, sex, or politics on a first date. If you’re on a date with an American, add three more things to that list – abortion, gay marriage, and gun control. As for the latter, about half of Americans fall into the camp that believes there will be far fewer daily drive-bys in Chicago if we controlled guns more. And the other half fall into the “cold dead hands” camp who (probably correctly) assume that the only way anyone in their right mind would live in Chiraq is if they were armed to the teeth.
Regardless of what camp you pitch your tent in, gun crime isn’t going anywhere. One company that’s making some decent coin off gun-related crime is ShotSpotter (SSTI).
About ShotSpotter Stock
Founded in 1996, Newark, California company ShotSpotter became publicly traded in 2017 and currently sports a market cap of around $550 million. As the company’s name implies, their core product offering is a proprietary gunshot detection technology – ShotSpotter Respond – that’s been adopted by law enforcement agencies around the globe. More than 80% of gunshots aren’t reported to police, so there’s a clear use case for a technology that detects gunfire.
When a gunshot happens, acoustic sensors pick up the sound with AI algorithms authenticating the sound as being an actual gunshot, while using triangulation to identify the precise location.
