Well articulated mallcop.I have previously been critical that...

Well articulated mallcop.

I have previously been critical that FOD had no 'base business' in which to generate cash to fund new product development.
Historically, the SKU 'churn' on new products entering and old products being delisted would make any supply chain manager cry.
To their credit they purchased a pretty good orange juice company. That gave them a 'base business' overnight.
This has provided the consistency in cash generation they so dearly needed.

However, despite some interesting innovations, there is still an inability to move the needle in a material way. (don't start me on the silly distraction of hand sanitiser..!!!)
Not a criticism, but just the way I see it.

FOD is an orange juice company, pure and simple.

It's a tough category and they are swimming with sharks.

My holding has dropped deeper than where the sharks swim but I will not sell.

FOD needs to target larger category subsegments in order to move the needle in a measured but sustainable way.

If FOD does not, they will remain forever in a day, a pretty good orange juice company.....