A day after Brandon Johnson was elected as Chicago's new mayor, stock for the company formerly known as ShotSpotter plummeted by nearly 25% of its preelection value.
Johnson defeated former Chicago Public Schools CEO Paul Vallas on April 4. The following day, ShotSpotter stock tanked by nearly 25% of its preelection value. As of Tuesday afternoon, the stock sat at just under $28 a share.
The technology, which is still called ShotSpotter, is used by the Oakland Police Department. A spokesperson for the department told SFGATE over email that it last renewed its contract for ShotSpotter in 2021 and has extended the service through at least 2024. ShotSpotter, founded in 1996, was among the first to offer gunshot detection. The service has been deployed throughout the country as a means of tracking gunfire more rapidly than 911 calls — according to the Associated Press, at least 110 municipalities in the United States were using
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