In today's video, I look at Tattooed Chef's (TTCF 0.15%) recent news and why the stock is experiencing a massive sell-off.
Four reasons for the stock price drop
- On April 15, 2021, the CEO sold roughly 1.3 million shares. It is important to note that after the transaction, the CEO still holds over 30 million shares.
- On April 15, 2021, the CFO resigned from his position, effective immediately. It is never a good sign when an insider leaves the team, but it looks particularly bad when it happens after the CEO sells some shares.
- The negative news made investors resurface a short report released in November 2020.
- The downtrend on growth stocks and SPACs continued during yesterday's trading session.
Click the video below for my full thoughts.
*Stock Prices used were the mid-day prices of April 19, 2021. The video was published on April 19, 2021.