Byrna Doesn't Have "Green Dot" Stock Credentials

Byrna Technologies (BYRN) is certainly an interesting company, making "less-than-lethal" CO2-based self-defense launchers. Basically, they are air-powered handguns and rifles that fire ballistic and chemical projectiles that are designed to stop would-be attackers without causing death or lasting bodily harm. Revenue has been growing rapidly and looks to double this year, mainly on the back of e-commerce sales directly to consumers (they are legal without a background check in all 50 states). While growth is good, and the product intriguing, I don't see any recurring revenue characteristics, or any particular moat potential. As the market grows, so will competition. Legacy firearm manufacturers are stagnant growth-wise, and it is unclear the ultimate market potential here. For those reasons, it is a pass for me.

Watch List

RDDT 10.23%
NTNX 33.26%
CRWD 67.38%
SE 32.25%
SNOW 12.13%
APPF 6.73%
PINS -21.37%

Buy List

SEMR -36.45%
TSM -37.46%
GOOG -49.51%
NYAX -57.29%
MSFT -28.86%
ODD -30.78%
ASR -26.66%
FLYW -35.81%
HRMY -54.32%
YOU -33.54%
ABNB -29.41%
MELI -27.78%
ADBE -38.87%

Hold List

VTEX -17.12%
ZETA -20.17%
CELH 40.60%
TOST 17.90%
CPNG -11.25%
HIMS -8.80%
PAYC -18.77%
MNDY 10.68%
GLBE -20.17%
ZS 28.50%
V -3.09%
ADSK -0.07%
NOW -0.03%
FTNT -2.41%
TEAM -2.35%