Why Tattooed Chef Stock Jumped on Wednesday

Tattooed Chef (NASDAQ: TTCF) stock beat the market in early trading on Wednesday, rising 15% by 11 a.m. ET compared to a flat S&P 500. The rally erased only a small portion of recent losses. Shares are still down over 50% so far in 2022.

It was powered by news that the plant-based foods specialist has won a bigger distribution deal with the world's biggest retailer.

Tattooed Chef stuck an expanded deal with Walmart, the company said in a late Tuesday press release. The move will significantly boost its presence in the frozen food section and put its brands in more of the mega-retailer's stores.

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Source Fool.com