Plant-Based Food Stocks Have Continued Their Major Declines In 2022

The Pure-Play Plant-Based Food Stocks Index of 5 fledgling fake meat, dairy, egg, and seafood companies was down, by another -8.1%, last week and is now -10.3% YTD and -65.2% from its market high in 2021.

Note that each constituent has hyperlinks to 3 areas of additional information which are imperative for any individual considering investing in this sector:

• The company name is hyperlinked to its web site to provide you with a description of the company and an analysis of its stock.
• The trading symbol is hyperlinked to additional financial data and commentary on the company (where available).
• The percentage change from the market high in 2021 is hyperlinked to a chart of the company's stock performance.

The "financial distress" percentage is sourced from macroaxis.com.

Below is how the munKNEE Pure-Play Plant-Based Food Stocks Index constituents have performed so far in January, 2022, in descending order with the percentage change from their 52-week highs in brackets:

1. Guru Organic Energy Corp. (CSE: GURU; GUROF): No Change in price since the beginning of January. (Remains DOWN -29.1% from its 52-week high)
   • a Montreal, Canada beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink.
   • has over a 77% chance of experiencing financial distress in the next few years of operation.
2. Else Nutrition (BABYF): No Change in price since the beginning of January. (Remains DOWN -74.8% from its 52-week high)
   • an Israel-based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults.
   • has over a 73% probability of financial distress in the next few years of operation.
3. The Very Good Food Company (VGFC): DOWN -4.1% YTD; (DOWN -83.1% from its 52-week high)
   • designs, develops, produces, distributes, and sells a variety of plant-based meat and other food alternatives to customers in Canada and the United States.
   • has about a 35% probability of financial distress in the next few years of operation.
4. Tattooed Chef (TTCF): DOWN -10.6% YTD; (now DOWN -50.0% from its 52-week high.)
   • offers a broad portfolio of plant-based food products that are available in the frozen food sections of national retail food stores across the United States.
   • has less than a 26% chance of experiencing some form of financial distress in the next two years of operation.
5. Laird Superfood (LSF): DOWN -20.6%; (now DOWN -81.5% from its 52-week high)
   • has more than a 58% chance of experiencing financial distress in the next 2 years of operation.

The average market capitalization of the above 5 stocks is $200M with an average stock price of $7.61/share. (The aforementioned currency amounts are in U.S. dollars. Go here to convert to another currency.)

Not included in the Index are two huge companies with market capitalizations in excess of $4B which have performed, as follow, since the end of 2021 with the percentage chain from their 52-week highs in brackets:

1. Beyond Meat (BYND): UP +2.2%; (DOWN -69.9%)
2. Oatly Group (OTLY): DOWN -6.9%; (DOWN -74.4%)

The 5 pure-play stocks in the munKNEE Pure-Play Plant-Based Food Stocks Index are just that, focused almost exclusively on the research, development, sales, distribution, and marketing of vegan food products; as such, we think the Index reflects the true health of the plant-based food sector in the U.S. and Canada.