The reduced price point in Tattooed Chef (TTCF) stock makes it an even more power-packed investment than it was just a month ago.
TTCF is a publicly traded plant-based food company aiming to become the leader in this huge niche. According to Statista in 2019, North America’s plant based food and beverage market was valued at about 14.08 billion U.S. dollars.
Tattooed Chef (NASDAQ: TTCF )’s third quarter report was the best quarter in the company’s history. The company’s total revenue increased 65% year over year to $41 million. Brand sales hit a record $ 22.6 million, with sales increasing 288% year over year. This is the third quarter in a row that branded products outperformed private label sales.
“We anticipate that we will continue to drive revenue growth based on continued success with our key club customers, expansion with new and existing retail customers and our e-commerce website for direct sales to end users,” said CEO Sam Galletti. The company’s e-commerce website went live 3 weeks ago, which could see significant revenue growth in the coming quarters. Next TTCF earnings call will account for their Online shopping growth stream. If the results of their e-com business are better than expected this can push the stock to new all time high.
Now that the dust has settle it is, again,a good timing to re-enter TTCF stock for another rally, at least in my eyes. With TTCF products already on the shelves of Costco, Walmart and Target we could see significant numbers in the quarters ahead.
Tattooed Chef stock closed Tuesday at $17.01 and another small gain added during pre-market on Wednesday.