Investors were advised to stay away from the IPO of Amira Nature Foods (ANFI) due to concerns over its ownership structure. The company priced 9 million shares at $10 last October and proceeded to drop right out of the gate. The stock fell to a low of $6.25 over the next few months. Now the company is making a strong rebound on the back of a solid earnings report and is rapidly approaching $9 per share. We think the company has hit an inflection point and has further room to run on the back of short covering and robust growth opportunities.
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Amira has been in business since 1915. Today the company is headed...