The Pure-Play Plant-Based Food Stocks Index* tracks the 9 stocks in the fledgling plant-based fake meat, dairy, eggs, and seafood sector and it was down 5.5% last week and is now down 7.4% YTD. Below are links to recent articles on each company followed by their stock performances last week and YTD with the most recent news on every company.

Please note: Every company name has been hyperlinked to a previous article on the company and every company trading symbol has been hyperlinked to provide stock charts, in-depth financial data, and links to other articles on the company to enable the reader to do their due diligence before making a decision to invest in this sector. Also keep in mind that several of the stocks in the Index are microcaps which may be susceptible to manipulation by unscrupulous speculators. All prices are in USD unless otherwise noted. Go here to convert to another currency.

According to a 2020 study by Ipsos Retail Performance, about 9.7 million Americans now follow a plant-based diet up from just 290,000 in 2004 and this may just be the start. According to the Plant Based Foods Association and the Good Foods Institute we should see continued major growth in the plant-based sector with year-over-year sales growth of 11.4% and be worth $74.2 billion in the next seven years, according to Meticulous Research.

Constituent Introductions and Stock Performance Comparisons

The Index is divided into two categories – those five (5) trading for less than US$10/share and those four (4) trading at much higher prices –  to provide more meaningful comparisons and conclusions as to the performance of the Index. Below are links to recent articles on each company followed by their stock performances last week and YTD, in brackets, with the most recent news on every company.

1. The Very Good Food Company Inc. (VRYYF): -9.2% (-14.5%) to $4.17/share
   • Acquired The Cultured Nut Inc., a plant-based cheese company located in Victoria, British Columbia which, according to CEO, Mitchell Scott, is “a significant milestone in the realization of our long-term strategy of owning several brands under the banner of the Very Good Food Company in all major food categories providing consumers fun, innovative and healthier plant-based alternatives to everyday animal-based products."
2. Modern Meat Inc. (SUVRF): -8.5% (-16.3%) to $2.68/share
   • No news
3. Else Nutrition (BABYF): -7.2%  (-18.4%) to $2.58/share
   • Launched its own Amazon Brand Store on Amazon.com as a result of a significant surge in online demand for its products to provide an improved product selection and purchase experience and better communication of the Else brand story
4. Plant&Co. Brands (VGANF): N/C (-4.9%) at $0.39/share
   • Announced plans to aggressively expand its reach across North America by franchising its popular YamChops vegan butcher stores that specialize in the preparation, distribution, and retail sales of 45 proprietary plant-based meats, chicken, pork, fish, and various other vegan style food products
5. Eat Beyond Inc. (EATBF): -19.0% (N/C) to $1.88/share
   • Announced that it has joined Protein Industries Canada, an industry-led, not-for-profit, organization created to position Canada as a global source of high-quality plant protein and plant-based products.

Average Sub-Total Performance: -10.1%  (-13.9% YTD)

1. Laird Superfood Inc. (LSF): -9.4% (-26.2%) to $35.75/share
   • Announced that it will report financial results for the fourth quarter and fiscal year ended December 31, 2020 on Thursday, March 11, 2021 after the market closes.
2. Beyond Meat Inc. (BYND): -4.9% (-1.1%) to $138.30/share
   • Citi analyst, Wendy Nicholson upgraded its stock to a BUY with a target price of $184, a 33% upside to its current price, as she considers the issues that impacted 4Q (sales, margins and EBITDA coming in below the Street’s expectations, owing to weak foodservice revenues and higher-than-expected overhead absorption costs) to be mostly temporary, and expects that once we are past COVID, BYND’s top line momentum can get back on track. 
   • Announced its has increased its offer of convertible senior notes, due in 2027, to $1B, subject to market and other conditions, with expected net proceeds from the offering of approximately $979.4M.
3. Guru Organic Energy (GUROF): N/C  (+15.5%) at $16.80/share
   • Announced that it will report its financial results for the first quarter ended January 31, 2021, on Wednesday, March 17, 2021, before markets open
   • Announced that its plant-based energy drinks will soon be available in over 1,130 Circle K and 140 Winks convenience stores across Canada increasing its brand presence in Canadian markets outside of Quebec to close to 3,000 points of sale
4. Tattooed Chef Inc. (TTCF): -4.1% (-16.5%) to $19.12/share
   • Redeemed all its warrants and now has a cash balance of +$200 million to invest in future growth but the redemption has diluted the total number of shares causing some concern from investors.

Average Sub-Total Performance: -5.3% (-7.0% YTD)

*Please note: The 9 pure-play stocks in the munKNEE Pure-Play Plant-Based Food Stocks Index are just that, pure, and focused almost exclusively on the research, development, sales, distribution, and marketing of vegan food products and, as such, the Index reflects the true health of the plant-based food sector in the U.S. and Canada.