FOOD.TO CFO leaving

Hey there.

I like the company. In fact, I recently took a position in the $11 range.

Wasn't too long ago major institutions gave this company $60 million at $12.50 a share.

We see plenty of growth in the company's future, think they're only getting started. Did it run to $15~ a little too fast? Yes, but a lot of growth options ran up too fast.

Solid company. The key catalyst will be subscription growth after we fully get out of the pandemic. Not too long ago the company released a report that highlighted subscription growth is up 33% compared to the prior year, and although we're not fully out of pandemic conditions, we're seeing some sort of normalcy and subscriptions are still growing.

Its flat monthly fee grocery delivery system that is currently being adopted is, in my opinion, a step ahead of competitors in the grocery space as well.

Right now, nothing has changed for me. And, we'll be keeping a very close eye on the company's subscription growth as we start to get back to normal, as this is the core of our overall thesis.

Thoughts on getting to this company right now?

If this was a CEO or CFO leaving abruptly or for negative reasons, our thesis might change. But, this is simply the CFO leaving for a better opportunity.

Business as usual here. There was a recent report that the company is missing orders and has complaints from customers etc. But, this is due to increased demand that the company is having difficulty accounting for.

Although to a glass half empty investor this may be a bad thing, in our eyes it is good. We have faith the company will get things in order and will eventually be able to catch up to demand.

If this was a CEO or CFO leaving abruptly or for negative reasons, our thesis might change. But, this is simply the CFO leaving for a better opportunity.

Business as usual here. There was a recent report that the company is missing orders and has complaints from customers etc. But, this is due to increased demand that the company is having difficulty accounting for.

Although to a glass half empty investor this may be a bad thing, in our eyes it is good. We have faith the company will get things in order and will eventually be able to catch up to demand.