Why Freshpet Stock Was Up a Staggering 140% in 2020

Shares of Freshpet (NASDAQ: FRPT) soared 140.3% in 2020, according to data provided by S&P Global Market Intelligence. During the year, the company set an ambitious five-year sales goal, stayed operational throughout the pandemic, and profitably grew sales. These three things alone likely wouldn't cause the stock to spike this much in normal years, but 2020 was no normal year.

If you look at the chart for Freshpet stock in 2020, you'll notice an absence of pronounced spikes. The stock fell when the market crashed, but by and large, it was a steady climber throughout the year. Perhaps investors were merely optimistic since the company retained sales during the COVID-19 pandemic. Indeed, its Kitchens (where its pet products are manufactured) stayed open, allowing ongoing sales growth throughout the year.