In today's video, I look at the growth stocks Tattooed Chef (TTCF -50.00%), Celsius Holdings (CELH -0.12%), and Oatly (OTLY -5.74%). These three stocks are all in the food industry and growing their revenues at impressive rates. Below I share a few reasons to add them to your watch list. 

Three reasons to add Tattooed Chef to your watch list

  1. Tattooed Chef reported 59% year-over-year (YOY) revenue growth and 105% YOY branded product growth for the first quarter of 2021.
  2. Tattooed Chef has a strong balance sheet with substantial cash and short-term investments with zero debt. 
  3. On May 18, 2021, Tattooed Chef announced that it had completed the acquisition of New Mexico Food Distributors and Karsten Tortilla Factory. This acquisition will diversify and expand manufacturing capabilities, and accelerate the expansion of products outside the frozen food market.

Three reasons to add Celsius Holdings to your watch list

  1. Celsius Holdings reported 78% year-over-year (YOY) revenue growth driven by 101% YOY domestic revenue growth for the first quarter of 2021.
  2. Celsius Holdings has exceptional fundamentals for its trailing 12 months. It is profitable and has substantial cash and short-term investments with zero debt. 
  3. U.S. door store count grew by approximately 10,000 doors YOY, with additional expansions planned throughout 2021.

Two reasons to add Oatly to your watch list

  1. Oatly reported 112% year-over-year (YOY) revenue growth for the fiscal year 2020 compared to 2019.
  2. Oatly continues to build its distribution capabilities. On March 9, 2021, Oatly announced plans for one of the world's largest plant-based dairy factories. The facility is anticipated to launch in Q1 2023.

Click the video below for my full thoughts. 

*Stock prices used were the closing prices of May 21, 2021. The video was published on May 23, 2021.