Why Tattooed Chef Stock Soared 50% in December
Shares of frozen food company Tattooed Chef (NASDAQ: TTCF) were up 50.2% in December, according to data provided by S&P Global Market Intelligence. The stock was down 11% in November, due to a short-seller taking aim at the company. But it was able to rebound sharply last month thanks to an exciting new product launch and a compelling presentation given at its first analyst-day event.
Tattooed Chef directly sources ingredients from farms and turns them into ready-to-eat frozen food options. All products are either vegetarian or vegan, and many are gluten free. And the company believes it's poised to seize this large and growing market. According to its analyst-day presentation, its current market opportunity for frozen prepared foods is $34 billion and it can soon expand into the dessert category, which is an almost $13 billion opportunity. Not bad for a small-cap stock.
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Source Fool.com
