Rogue Funds, an investment management company, released its third quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned -3.03% net of fees in the quarter. The fund faced a slight decline in the value of the portfolio, which was quite disappointing. Two of the fund’s core positions fell by more than 50% since the firm acquired them, mainly due to significant changes in their investment theses. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Rogue Funds highlighted stocks like ElectroCore, Inc. (NASDAQ:ECOR) in the third quarter 2024 investor letter. ElectroCore, Inc. (NASDAQ:ECOR) is bioelectronic medicine and wellness company. The one-month return of ElectroCore, Inc. (NASDAQ:ECOR) was 40.83%, and its shares gained 162.72% of their value over the last 52 weeks. On December 31, 2024, ElectroCore, Inc. (NASDAQ:ECOR) stock closed at $16.21 per share with a market capitalization of $106.25 million.
Rogue Funds stated the following regarding ElectroCore, Inc. (NASDAQ:ECOR) in its Q3 2024 investor letter:
“We added ElectroCore, Inc. (NASDAQ:ECOR) about ~1.5-2 months ago and we are very excited about this high growth and high margin business. Management is excited about it as well and showed it by buying $6m of their last $8m raise. They hit profitability in about 6-9 months while growing revenue at a 70% consistent CAGR and new devices beginning to scale. I will be releasing a full DD breakdown on this one in the coming days. It is now our second largest position.”
A medical professional discussing the prescription-only therapy with a patient.
ElectroCore, Inc. (NASDAQ:ECOR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held ElectroCore, Inc. (NASDAQ:ECOR) at the end of the third quarter which was 1 in the previous quarter. The third quarter marks ElectroCore, Inc.’s (NASDAQ:ECOR) eighth consecutive quarter of record revenue. For the three months ending September 30, 2024, revenue reached $6.6 million, reflecting a 45% increase compared to the previous year. While we acknowledge the potential of ElectroCore, Inc. (NASDAQ:ECOR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.