Tobacco and cannabis-adjacent play Turning Point Brands Inc (NYSE:TPB) has skyrocketed some 130% year to date to over $60 a share, but at least one manager sees a path to up to $90 a share in the coming years. Both Seven Corners Capital and Maran Capital have been monitoring and investing in Turning Point occasionally for some time.
Longtime investment
In its third-quarter note to investors, Seven Corners Capital said Turning Point Brands has been "an old standby" in the portfolio. The firm originally invested in the third quarter of 2016 via its stake in Standard Diversified,...
