Why Smart For Life (SMFL) Stock Is Up 50% Today

Smart for Life Inc (NASDAQ:SMFL) shares are trading higher by 33% to $1.45 Tuesday morning after the company provided updates on its acquisition strategy. 

The company is currently negotiating four acquisitions and exploring additional opportunities as part of its post-restructuring plan. These targets include various companies in the nutritional supplements and functional foods sectors. 

Chairman A.J. Cervantes, Jr. and CEO Darren Minton emphasized the company’s commitment to accelerating M&A activities, aiming for acquisitions of profitable companies with $5 million to $25 million in annual revenue.

Smart for Life says the company aims to reach a $100 million revenue goal through organic growth and strategic acquisitions, though completion of these deals is contingent on due diligence and financing.

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How To Buy SMFL Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Smart for Life’s case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, SMFL has a 52-week high of $39.20 and a 52-week low of $0.78.