5 Stocks Hedge Funds Are Talking About Right Now

1. Laird Superfood, Inc. (AMEX:LSF)

2024 Performance:140.6%

Number of hedge fund holdings: 2

Headquartered in Boulder, Colorado, Laird Superfood, Inc. (AMEX:LSF) is a plant-based superfood products manufacturer. The recent purchase of company shares by board member Geoffrey T. Barker of Laird Superfood, Inc. (AMEX:LSF) has strengthened investor confidence in the firm’s long-term growth prospects. As of 19 April 2024, Laird Superfood, Inc. (AMEX:LSF) stock closed at $2.25 per share and it has a market capitalization of $21.552 million.

Leaven Partners stated the following regarding Laird Superfood, Inc. (AMEX:LSF) in its first quarter 2024 investor letter:

“Our largest positive contributor to overall fund performance in the quarter came from one of our few American holdings, Laird Superfood Inc. Based in Sisters, Oregon, the eponymous Laird Superfood, Inc. (AMEX:LSF) was launched in 2015 by the big wave surfer, Laird Hamilton. The company started off producing and selling plant-based creamers for coffee and tea but has since expanded into other areas, such as snack foods and enhanced beverage probiotics and supplements. Taking advantage of the public markets’ appetite for plant-based health foods and following in the lucrative footsteps of similarly positioned companies, like Beyond Meat, Laird Superfood, in September 2020, went public on the NYSE raising an impressive $63 million for the company coffers with a market valuation of $265 million. Before the end of 2020, the company would trade even higher on the back of the surging interest of hot IPOs, but as popular interest in these products waned and the IPO market cooled, the market value of LSF began its perpetual decline for the next 18 months until it caught my attention in June 2022.

By June 2022, the market valuation of Laird Superfood (LSF) had declined impressively resulting in a new valuation below $20 million—which also somehow accounted for their $12 million purchase, (in cash and stock), of Picky Bars, in 2021. Launched in 2010, Picky Bars, specializing in clean-label products, is a provider of energy bars and nutritionally enhanced oatmeal and granola…” (Click here to read the full text)

Disclosure: None. You can also take a look at the 10 Best Multibagger Stocks to Buy Now and Top 15 Cities Where Gen Z is Moving in the US.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.