For investors who missed out on the rapid price appreciation in shares of Vitacost (NASDAQ:VITC) following my "Top Idea" narrative in February, Mr. Market is offering Vitacost shares at an attractive risk/reward once again. This time, investors can allocate capital to the idea after explicit acknowledgement from Vitacost management that it, indeed, hired an investment banker (Jeffries) to consider strategic alternatives.
In the interest of full disclosure, I should note that while I remain long Vitacost shares, I did, in fact, lighten up on my position after the earnings call in February and press release concerning the potential of selling the business at the behest of certain shareholders. That said, I still believe the business is worth...
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