The 4 stocks in the munKNEE Plant-Based Food Stocks Index are focused exclusively on the research, development, sales, distribution, and marketing of fake meat, dairy, egg, and seafood products and trade for a minimum of US$1/share.

About Plant-Based Foods

According to the Good Food Institute, grocery sales of plant-based foods that directly replace animal products have grown 27% in the past year to $7 billion with 98% of those Americans who are buying plant-based meat also purchasing conventional meat. The total plant-based food market is expected to grow at a CAGR of 11.9% going forward and reach $74.2 billion by 2027 .

The munKNEE Plant-Based Food Stocks Index

Below are the updated performances of the constituents in the Index since the end of March in descending order, along with their performances year-to-date and from their 2021 highs. In addition, the Chance of Financial Distress numbers are sourced from macroaxis.com and the Analyst Consensus data from stockanalysis.com.

1. Guru Organic (GUROF): N/C in April; (DOWN 19.1% YTD); DOWN 42.3% from 2021 high
   • A Montreal, Canada beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink.
     • Chance of Financial Distress in the next 2 years: 26%
     • Analyst Consensus: No analysts following GUROF
2. Laird Superfood (LSF): DOWN 16.6%; (DOWN 76.9% YTD); DOWN 94.6% from 2021 high
   • Co-founded in 2015 Laird offers environmentally conscientious, responsibly tested products made with real ingredients.
     • Chance of Financial Distress in the next 2 years: 58%
     • Analyst Consensus: 7 stock analysts currently rate LSF as a BUY.
     • Analysis/Commentary:
       • Laird Superfood Enters the Single-Use Coffee Pod Category with Eco-Friendly Alternative, Bright Cups
3. Else Nutrition (BABYF): DOWN 17.6%; (UP 15.7% YTD); DOWN 70.4% from 2021 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.
     • Chance of Financial Distress in the next 2 years: 27% 
     • Analyst Consensus: No analysts following BABYF
     • Analysis/Commentary: 
       • Else Nutrition Announces US Sales Growth Acceleration as Demand on Amazon Increases
4. Tattooed Chef (TTCF): DOWN 36.5%; (DOWN 48.6% YTD); DOWN 66.7% from 2021 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.
     • Chance of Financial Distress in the next 2 years: 28%
     • Analyst Consensus: 9 stock analysts currently rate TTCF as a BUY
     • Analysis/Commentary:
       • Burning Questions for This Plant-Based Foods Company in 2022

The average market capitalization of the above 4 stocks is $173M with an average stock price of US$5.36/share.

The munKNEE Pure-Play Plant-Based Food Stocks Index went DOWN 19.8% in April, and is now DOWN 47.4% YTD and DOWN 78.2% from its peak in 2021.

Not included in the Index are two huge companies with market capitalizations in excess of $2.2B which performed, as follow, in April along with their percentage changes YTD and from their 2021 highs:

1. Beyond Meat (BYND): DOWN 23.7% in April; (DOWN 43.4% YTD); DOWN 80.8% from 2021 high
   • A provider of plant-based meats which are sold in the meat case of grocery stores in 85 different countries. 
     • Chance of Financial Distress in next 2 years: 10%
     • Analyst Consensus: 26 stock analysts currently rate BYND as a HOLD.
     • Analysis/Commentary:
       • Why did Beyond Meat stock surge and then fall back? McDonald's intrigue
2. Oatly Group (OTLY): DOWN 28.9%; (DOWN 55.3% YTD); DOWN 87.7% from 2021 high
   • The world’s original and largest oat drink company is headquartered in Malmö, Sweden, with a portfolio of alternatives to milks, ice cream, yogurt, cooking creams, and spreads available in more than 20 countries. 
     • Chance of Financial Distress in next 2 years: 24%
     • Analyst Consensus: 25 stock analysts currently rate OTLY as a BUY.

We think the above Index reflects the true health of the plant-based food sector in the U.S. and Canada.