Tattooed Chef expands distribution deal with Walmart, stock climbs 16%
August 24, 2022
Trending News ☀️
Tattooed Chef($NASDAQ:TTCF) stock climbed 16% postmarket on Tuesday after the firm announced an expanded distribution deal with Walmart and a $10M asset purchase agreement with Desert Premium. TTCF will increase its brand’s frozen shelf presence from 5 to 13 SKUs and expand availability of these 13 SKUs from an average of 300 WMT stores to an average of 2K WMT stores. This move will significantly increase the Tattooed Chef’s presence in Walmart stores, making it more accessible to potential customers. In the long term, this could lead to increased sales and earnings for the company.
Stock Price
On Tuesday, TATTOOED CHEF stock opened at $6.3 and closed at $6.3, up by 1.8% from prior closing price of 6.2. The company has seen a 16% increase in stock prices since the news was announced. The expansion will allow the company to reach more consumers and increase its sales.
VI Analysis
A company’s fundamentals are a reflection of its long-term potential. The VI app makes it easy to analyze a company’s fundamentals. According to the VI Star Chart, TATTOOED CHEF is classified as a “cheetah.” Cheetahs are companies that have achieved high revenue or earnings growth but are considered less stable due to lower profitability. High growth companies are deemed more volatile as they attempt to grow faster. TATTOOED CHEF is strong in assets, growth, and medium in profitability.
However, the company is weak in dividend. TATTOOED CHEF has an intermediate health score of 6/10, considering its cash flows and debt. This means that the company might be able to pay off debt and fund future operations.
Summary
Tattooed Chef, a plant-based food company, announced that it has expanded its distribution deal with Walmart. This news sent the company’s stock prices soaring by 16%. This is great news for investors in Tattooed Chef. The company’s products are now available in more than double the number of Walmart stores, which gives it a larger potential customer base. With the stock price climbing 16%, this is also a good time to buy shares in the company.
