Why Tattooed Chef Stock Just Dropped 5.5%
Shares of recent IPO and plant-based packaged foods maker Tattooed Chef (NASDAQ: TTCF) plummeted in early trading on the NASDAQ Thursday after Kerrisdale Capital, an entity that promises to "tweet investment ideas," announced this morning that it is "short" shares of the company. As of 10:50 a.m. EST, Tattooed Chef stock is down 5.5%. In a six-part tweet, Kerrisdale listed its concerns about Tattooed Chef, which range from slowing sales growth, weak profits, and a rich valuation to the alliterative "customer concentration at cost-conscious Sam's Club."
