$BYRN DD: It’s Mispriced, and I think it’ll pop by October 8th. I’ll prove it.

TL;DR: I believe $BYRN will pop off on or before their earnings call on October 8th. Shorts are trying to convince you that a company with 57% revenue growth and frankly explosive profits is a bad bet. They are wrong.

Standard play: $BYRN shares currently $19-20;

Budget play 1: 10/17 25c currently ~$0.65;

Budget play 2: 12/19 30c currently ~$0.80. 

—————————————————

In 2023, I started value investing again. Responsibly. Just a bit. And long story short, I found BYRN. I've been holding it since it was $4. After their 2025 first quarter earnings, they spiked to around $34, where I took profits. But then the stock sank. And sank some more. For no reason. So I bought back. And so should you.

Disclaimer: I couldn't post this in WSB because BYRN is at $475mm market cap and doesn't meet the $500mm minimum requirement. Hopefully tomorrow I can post there too.

• Quick rundown of Byrna. It's a nonlethal gun ("launcher") company that gained attention after Google banned them from advertising on their platforms in 2023 for promoting violence. Ironic. Police departments worldwide are using it now, and the Streisand effect is gaining them more and more contracts. Their CFO is genuinely goated, most recently securing a deal with Sportsman's Warehouse to have in-store Byrna demo rooms. It's been a massive success, as you'll see below. They have zero debt and positive income.

Seriously though, there's like literally no reason it's being suppressed at $20. I have reason to believe there's some bullshittery happening here. Here I shall present to you my thesis on their October 8th earnings call. Fun fact, I typed this entire thing myself. No AI.

So you're doubtful? Nah bruh. LOOK at the

Fundamentals:

Tariff resistance stats: 100% ammo production in the USA. 92% launcher production in the USA.

Q1 2025 vs. Q1 2024:

Net Revenue: $26.2 million (57% increase from $16.7 million)
Gross Profit: $15.9 million (61% of revenue)
Net Income: $1.7 million (9900% increase from $17,000)

Q2 2025 vs. Q2 2024:

Net Revenue: $28.5 million (41% increase from $20.3 million)
Gross Profit: $17.6 million (62% of revenue)
Net Income: $2.4 million (14% increase from $2.1 million)

Q3 2025 vs. Q3 2024 (Preliminary):

Net Revenue: $28.2 million (35% increase from $20.9 million)
 - Driven by a 147% increase in chain store and dealer channels (wtf)
Web sales increased by 8%.
International sales grew by 33%.

Like please. In one of the most turbulent economic chapters in US history, BYRN is STILL ramping its sales and margins. And yet, the stock is hovering around $20. My best guess is, your average retail investor isn't who is shorting it. It's someone else. Possibly a hedge fund, because 66% of BYRN is owned by institutional investors who don't give enough of a shit to short it.

I've been tracking this stock for 2 years now. People are catching on. Remember, these guys were trading at $4 in 2023. Every single one of their C level execs is amazing. Analyst price targets are between $35 and $46. The company is officially profitable, and income is consistently in the black. But the stock is marooned at $20. I couldn't make sense of it, because I don't like conspiracy theories. But it kept happening. For MONTHS.

The Short "Interest"

Yeah, we're a bit allergic to the term "shorts" these days. I get it. But… I have to call it out. Because as of August 15th, the short interest on BYRN was 4.08 million shares, or 23.1% of the total float. Nearly a quarter of the company’s publicly traded shares are being shorted.

23.1% short interest on a profitable, zero debt company. WHAT.

They use AI in their marketing…

• The target market for the AI ads are boomers who shop at Sportsman’s Warehouse. They can’t tell the difference between AI and a real video, and they don’t care. I literally sent my parents the video and asked them what was wrong with it. My mom said "it was a wonderful ad, very clever". Bullish.

The economy is uncertain…

• BYRN is nearly immune to tariffs. See Tariff Resist Stats above. The fact that the stock moves on tariff news is honestly dumb as heck, but we live in the world of algos now. Bullish, but also I'm a bit pissed about this.

They're burning cash…

• Yep. New product release (Byrna CL), they're burning cash to stockpile and advertise it. And they're still in the black. AND it’s working. Gotta spend money to make money. Bullish.

The preliminary earnings for Q3 are already out, and they are fantastic. The only thing left to be revealed in October is the EPS, and I’m betting 30k shares that it’s going to be another profitable quarter.

Why am I writing this all out? Because I want someone else other than me to be interested in this. BYRN is an obviously overlooked company. I rode the wave from $4 without saying a word and waiting for talking heads from Yahoo.com to spread the news. But lately I've been thinking, there's a big value play here, and it's happening because somebody with a lot of money somewhere made a mistake and needs time to unload. I'm expecting it to run up to somewhere from $35-$45. Am I crazy? Can someone stop me because I want to throw 100% of my portfolio into this baddie. I'm actually simping for this company so hard its crazy.

Plays to take advantage of this (I did all 3):

1. 10/17 25c currently ~$0.60-$0.90

2. Buy the stock. Currently hovering between $19-$21

3. 12/19 30c currently ~$0.80 (less risky play)

Thank you regards for reading this far. The same fundamentals as any other slept-on stock applies to this one. Buy and hold, check the next interest report coming out on 09/15, etcetera. If any oldheads read this post, please fact check my ass. I'm trying to navigate this into as much profit as I can possibly take myself. Tendies… 🤤