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Should You Invest in Innovative Food Holdings Inc (IVFH)?

Greystone Capital Management, an investment management company, released its first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, the return for separate accounts managed by the firm ranged from -1.2% to +2.0%. The median account returned -0.1%, net of fees. The results were unfavorable compared to the +10.6% and +5.2% returns for the S&P 500 and Russell 2000. The fund’s return generally varies from the major indices as the fund’s portfolio concentrates on small companies outside the major indices. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Greystone Capital Management featured stocks like Innovative Food Holdings, Inc. (OTC:IVFH) in the first quarter 2024 investor letter. Headquartered in Bonita Springs, Florida, Innovative Food Holdings, Inc. (OTC:IVFH) distributes specialty food and food related products. On May 9, 2024, Innovative Food Holdings, Inc. (OTC:IVFH) stock closed at $0.9500 per share. One-month return of Innovative Food Holdings, Inc. (OTC:IVFH) was 0.72%, and its shares gained 125.58% of their value over the last 52 weeks. Innovative Food Holdings, Inc. (OTC:IVFH) has a market capitalization of $48.223 million.

Greystone Capital Management stated the following regarding Innovative Food Holdings, Inc. (OTC:IVFH) in its first quarter 2024 investor letter:

“In keeping with our theme of investing in companies that cease doing dumb things, two new positions that made their way into the portfolio this quarter include Innovative Food Holdings, Inc. (OTC:IVFH) and NN, Inc. Each business possesses the criteria of being a better business than currently being given credit for, have undergone significant changes in the C-Suite, and have many common-sense items to address that will help reveal each company’s core business quality over time. In other words, plenty of one-foot bars.

Below I highlight each investment and look forward to disclosing more in future letters

Innovative Food Holdings is a specialty food distributor with a niche service offering and a history of strong organic growth. The company distributes over 7,000 perishable and specialty food and food related products, with expertise in selection, sourcing, and logistics. The business was founded and run for nearly twenty years by the former CEO who was both overpaid and had a history of chasing pet projects to the company’s detriment. Despite following IVFH for years and liking the core business, the company was un-investable under the prior management team. That is no longer the case…” (Click here to read the full text)

A B2B food distributor making sure grocery shelves are fully stocked with food.

Innovative Food Holdings, Inc. (OTC:IVFH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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Wall Street calls this $3 stock a “Melting Ice Cube.” They said the same thing about BTI before it returned 90%.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

My name is Inan Dogan. I’m the co-founder and Research Director of Insider Monkey. I have an important message for you today.

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