March Update: Plant-Based Food Stocks Index Finally Turned Positive

This article outlines the performance of the 4 constituents in the munKNEE Plant-Based Food Stocks Index during the past month. The Very Good Food Company (VGFC) has been removed from the Index as it had traded below the minimum price threshold of at least US$1/share for the past three months.

The 4 stocks in the Index are focused almost exclusively on the research, development, sales, distribution, and marketing of fake meat, dairy, egg, and seafood products.

Note that each constituent has hyperlinks to 5 areas of additional information which are imperative for any individual considering investing in this sector:

  1. The company name is hyperlinked to its website to provide you with a description of the company and an analysis of its stock.
  2. The trading symbol is hyperlinked to additional financial data and commentary on the company (where available).
  3. The percentage change YTD is hyperlinked to a chart of the company's stock performance.
  4. The "financial distress" percentage is sourced from macroaxis.com (visit the site and type in the stock symbol to obtain the most recent analysis).
  5. The Analyst Consensus is sourced from stockanalysis.com (visit the site and type in the stock symbol to obtain a detailed consensus of their recommendations and projections).

Below are the updated performances of the constituents of the Index since Friday, February 25th, in descending order, along with their performances year-to-date and from their 2021 highs:

  1. Else Nutrition (BABYF): UP +37.4%; (UP +40.4% YTD); DOWN -64.1% from 2021 high
    • Chance of Financial Distress in next 2 years: 25%
    • Analyst Consensus: No analysts following BABYF
  2. Guru Organic (GUROF): UP +31.2%; (DOWN -19.1% YTD); DOWN -42.2% from 2021 high
    • Chance of Financial Distress in next 2 years: 24%
    • Analyst Consensus: No analysts following GUROF
  3. Tattooed Chef (TTCF): UP +8.4%; (DOWN -19.0% YTD); DOWN -47.6% from 2021 high
    • Chance of Financial Distress in next 2 years: 26%
    • Analyst Consensus: 9 stock analysts currently rate TTCF as a BUY.
  4. Laird Superfood (LSF): DOWN -41.8%; (DOWN -72.3% YTD); DOWN -93.5% from 2021 high
    • Chance of Financial Distress in next 2 years: 58%
    • Analyst Consensus: 7 stock analysts currently rate LSF as a BUY.

The average market capitalization of the above 4 stocks is $195M with an average stock price of $6.83/share. (The aforementioned currency amount is in U.S. dollars. Go here to convert to another currency.)

The munKNEE Pure-Play Plant-Based Food Stocks Index went UP +1.3% this past month but remains DOWN -34.5% YTD and DOWN -72.8% from its peak in 2021.

Not included in the Index are two huge companies with market capitalizations in excess of $4B which performed, as follow, last week with the percentage change YTD in brackets:

  1. Beyond Meat (BYND): DOWN +8.5%; (DOWN -25.9% YTD); DOWN -74.8% from 2021 high 
    • Chance of Financial Distress in next 2 years: 10%
    • Analyst Consensus: 26 stock analysts currently rate BYND as a HOLD.
  2. Oatly Group (OTLY): DOWN -25.6%; (DOWN -37.1% YTD); DOWN -82.7% from 2021 high
    • 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.

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