What the heck is going on at Laird Superfood (NYSE: LSF)? At one point in February 2021, the company had a market capitalization of almost a half a billion dollars but is now getting takeover offers at 95% less. At it's core, Laird Superfood is still perfectly positioned inside the CPG triangle of better for you, plant-based, and functional. That being said, category competitiveness was always going to catch up to Laird Superfood. Along with the absurdly poor stock performance, Laird Superfood has had its share of business struggles that start and end with a cost structure that needs drastic improvement. With new CEO Jason Vieth leading Laird Superfood in 2022, you can start to see some signs of positive change. Because of that (and it being a lowball offer), Laird Superfood cannot and should not take the unsolicited offer from EF Hutton. I do though think Laird Superfood would be better off transforming its business to achieve its long-term goals outside of the unforgiving spotlight of Wall Street. That leaves Laird Superfood with maybe the following path…they could go back to EF Hutton to negotiate a higher price, but at the end of the day, EF Hutton just wants to value hunt, improve fundamentals, and then flip it to a big CPG portfolio. So, why would Laird Superfood do that when they already have a Big CPG portfolio as one of its biggest investors? Is it finally time for Danone to acquire Laird Superfood?

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