Image by Sean Hayes from Pixabay
 

There are now only 2 pure-play plant-based food stocks with market caps in excess of $100M and they are tracked in our munKNEE Plant-based Food Stocks Index along with one company whose stock was only recently above $100M but has seen its stock price tumble - and hence its market capitalization - in light of its severe financial troubles. It will be removed from the Index in future articles.

The 3 stocks in the Index have advanced so far in June primarily due to a rising percentage of short interest in their stocks. Their stock price performances MTD are presented below:

1. Oatly Group (OTLY): UP 27.2% so far in June; DOWN 32.2% in May
   • The world’s largest oat drink company catering primarily to customers in Sweden, Germany, the United Kingdom, Netherlands, Finland, and North America.
   • Its short interest percentage is currently only at 9.6% suggesting that its increase in price is renewed interest in this stock as a result of the heightened short interest of Beyond Meat.
2. Beyond Meat (BYND): UP 18.8% so far in June; DOWN 25.0% in May
   • Seeks to replicate the look, "cook", and taste of meat. Its products are sold in the meat case of retail food stores across the U.S. and Canada and 83 other countries.
   • Its short interest percentage has increased to a very high 43.19% indicating that short sellers are expecting the stock price to decline substantially going forward.
3. Tattooed Chef (TTCF): UP 5.5% so far in June;  DOWN 64.3% in May
   • 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.
   • Its short interest percentage is currently at 28.2% in the expectation that its financial woes will negatively impact its stock price going forward.
      

Summary

The munKNEE Plant-Based Food Stocks Index was DOWN 29.5% in May but is UP 19.3% MTD.

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