Why Tattooed Chef Stock Was Down This Week
Tattooed Chef (NASDAQ: TTCF) stock is underperforming a falling market this week. The plant-based food specialist's shares were trading down by 10% for the week as of early Friday, according to data provided by S&P Global Market Intelligence, even as the wider market was off by about 2%. Tattooed Chef has had a rough 2022 overall, with shares down 59% year to date compared to a 17% decline in the S&P 500.
The latest slump was sparked by general concerns about economic growth, along with a few specific worries about the company's growth potential.
The main factor driving Tattooed Chef's stock lower this week was the negative sentiment around growth stocks in general. The Nasdaq index, home to many of these investments, has slid by about 3% for the week due to investors' fears about rising interest rates and the possibility that the U.S. is entering a recession.
Source Fool.com
