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High Growth Pet Food Producer Nearing Bullish Breakout

by | Jan 23, 2024

Freshpet (FRPT) shares are nearing a large breakout of its value area on a trigger above 89 with a lot of open space above here with a volume pocket up to about 95 and likely stiffer resistance near the 100 round number if it gets there early this year. The pet food producer has a higher short float of nearly 14% so a name that can squeeze on a breakout. FRPT has largely bullish open interest with the most notable recent trades being a 12/19 stock replacement buying 500 Jan 2025 $90 calls for $14.50 and on 12/28 saw a buy write sell to open 500 August $95 calls at $10.29, seeing room for a rally towards that 95 zone. Jana Partners still a top investor in the name with 2.38 million shares but sold 871K shares last month into the strong move.

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