Recently public Tattooed Chef (NASDAQ:TTCF) is having a tasty day in the stock market, up nearly 10% in intraday trading. But without any company news, investors may be wondering why. So what do you need to know about TTCF stock? And why is the plant-based foods company worth watching?
Importantly, investors should start by understanding Tattooed Chef. Essentially, the company is all about plant-based foods. However, it touts itself as a leader in making plant-based options tastier and using more sustainable ingredients. As consumers increasingly opt for sustainable and plant-based alternatives, TTCF stock looks rather intriguing.
With that in mind, here are 13 things to know about TTCF:
- Investors should note that TTCF stock was previously trading via a blank-check company.
- Specifically, Tattooed Chef came public when Forum Merger II merged with Ittella International.
- Shareholders voted on the combination in October 2020, with Forum Merger II narrowly missing a deadline to approve the vote.
- Additionally, Tattooed Chef came public with the guidance of SPAC experts David Boris and Marshall Kiev.
- Importantly, Tattooed Chef is another entrant in the growing plant-based food market.
- The company says that it wants to create healthy, sustainable foods for a variety of consumer interests and diets.
- It runs two production facilities in California and Italy.
- The Tattooed Chef currently markets a wide range of products that target younger consumers such as buffalo cauliflower burgers, smoothie bowls, zucchini spirals and cauliflower crust pizza.
- Beyond the taste, Tattooed Chef also wants its products to be accessible.
- That is why the company focuses on pre-prepared, already frozen products.
- Consumers can find these products in stores like Walmart (NYSE:WMT).
- According to InvestorPlace analyst Luke Lango, this makes it perfect for the Gen Z market.
- And importantly, company sales grew 77% in 2019.
What to Know About TTCF Stock Now
But why is TTCF stock on the move today? And what makes this an equity for investors to watch?
Well, as Lango tells it, we are watching an eco-friendly megatrend unfold. Just think about it. Since the start of the novel coronavirus pandemic, consumers have been increasingly conscious of individual impact and public health. They are thinking more critically about their purchases. As major corporations and governments follow suit, sustainable businesses are getting a big boost. Take for example the electric vehicle market. Investors likely know just how popular EV stocks are in 2020!
Essentially then, Tattooed Chef and TTCF stock offer another opportunity to ride this wave. More-established player Beyond Meat (NASDAQ:BYND) is up nearly 90% in 2020. For investors, Tattooed Chef is an opportunity to get in closer to the ground floor. Additionally, the company continues to innovate, such as through new plant-based meat options.
So what should investors do here? Keep TTCF stock on your radar. The company is not immune from scrutiny, and it was recently the target of a short-seller report. However, experts like those at IPO Edge believe the upside potential here is huge. Take for instance its plans to expand to more large-scale retailers and private-label initiatives. Plus, IPO Edge says Tattooed Chef could be the perfect M&A target in the future.
With shares cooking up gains on Friday, this is certainly a company worth watching.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.