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PETQ - Short Freshpet: Replaceable Product No Moat
PetIQ Inc.
2024-02-12 12:21:58 ET
Summary
Freshpet manufactures and sells pet food, targeting the "humanization of pets" trend.
There is no evidence that fresh dog food is beneficial to pets.
Freshpet's ambitious long-term plan to triple revenue and increase EBITDA margins may be difficult to achieve due to competition and lack of brand strength.