Here’s Why Greenhaven Road Capital Invested in Lifecore Biomedical (LFCR)

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Greenhaven Road Capital, an investment management company, released its third-quarter 2024 investor letter.  A copy of the letter can be downloaded here. The Fund returned approximately +15% in the third quarter, bringing year-to-date returns to approximately +12% net. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.

Greenhaven Road Capital highlighted stocks like Lifecore Biomedical, Inc. (NASDAQ:LFCR) in the third quarter 2024 investor letter. Lifecore Biomedical, Inc. (NASDAQ:LFCR) is an integrated contract development and manufacturing organization. The one-month return of Lifecore Biomedical, Inc. (NASDAQ:LFCR) was 28.21%, and its shares lost 9.61% of their value over the last 52 weeks. On November 14, 2024, Lifecore Biomedical, Inc. (NASDAQ:LFCR) stock closed at $6.68 per share with a market capitalization of $246.004 million.

Greenhaven Road Capital stated the following regarding Lifecore Biomedical, Inc. (NASDAQ:LFCR) in its Q3 2024 investor letter:

"After the third quarter ended, we participated in another PIPE of a company we already owned, Lifecore Biomedical, Inc. (NASDAQ:LFCR). In this case, we invested not to help fund an acquisition but to instead strengthen the company’s balance sheet. Our purchases were at a >10% discount to the market price, which I believe is temporarily depressed. The additional capital removes near-term liquidity issues which we believe should help the share price in the short term.

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