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Should Tattooed Chef Be in Your Portfolio?

Stock Markets57 minutes ago (Jun 02, 2021 03:30PM ET)

Should Tattooed Chef Be in Your Portfolio?

A plant-based frozen food producer Tattooed Chef (TTCF) has benefited immensely from its strategic investments and product portfolio diversification. Its recent acquisition will strengthen its manufacturing capabilities. However, given that the company is bleeding cash at a time when its losses and expenses are high, is the risk worth the reward? Let’s find out.Tattooed Chef, Inc. (TTCF) is involved in the production and supply of plant-based products under the Tattooed Chef brand name. The company went public through a special purpose acquisition company (SPAC) called Forum Merger II Corp. and was previously called Ittella International. TTCF’s stock has gained 22.4% over the past month, on the back of successful product launches and strategic expansions.

(source: TradingView)

While New Mexico Food Distributors, Inc. and Karsten Tortilla Factory, LLC (collectively referred to as “Foods of New Mexico”) acquisition should help TTCF to significantly increase its manufacturing capabilities, the company is undeniably hemorrhaging money. Its increasing expenses and losses do not justify its lofty valuation. TTCF has lost 5.3% so far this year. And given the company’s bleak financials, we think the stock could be a risky bet right now.

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Should Tattooed Chef Be in Your Portfolio?

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