FRPT
Another one bites the kibble
Freshpet just got a fresh reminder that not every big investor wants to stick around for the rebound. Engaged Capital sold 401,130 shares last quarter, an exit worth roughly $28.18 million based on quarterly average prices.
Why you should care
This isn’t some random bookkeeping footnote. When an activist-style fund or concentrated investor heads for the door, it can read like a neon sign flashing, “We’d rather be somewhere else.” For a stock already down around 40%, that kind of move can make the vibe even more fragile.
The bigger picture
Freshpet has had the kind of stretch that makes investors reach for a stress ball. A big fund sale doesn’t automatically mean the business is broken, but it does tell you sentiment is still wobbly. And when a stock is already under pressure, the market tends to treat exits like this as one more reason to stay cautious.
Big picture: sometimes the hardest part of investing isn’t finding the bargain — it’s figuring out who’s still willing to hold the bag while the turnaround plays out.