Image by Sean Hayes from Pixabay

The munKNEE Pure-Play Plant-Based Food Stocks Index, which consists of 5 fledgling fake meat, dairy, egg, and seafood stocks with market capitalizations between $100M and $1B, continues to decline month after month. It was DOWN -1.6% last week putting it DOWN -4.9% MTD and it is now DOWN -40.9% YTD.

About Plant-Based Foods

According to eResearch, 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 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.

Stock Performances of Index Constituents

Below is the stock price performance of each of the 5 constituents last week and YTD presented in descending order:

1. Laird Superfood (LSF): UP +2.2% last week but still DOWN -61.4% YTD
2. Guru Organic (CSE: GURU; GUROF): +/- 0% and remains DOWN -5.2% YTD
3. Else Nutrition (BABYF); DOWN -1.1% and now DOWN -40.5% YTD
4. The Very Good Food Company (VRYYF): DOWN -5.3% and now DOWN-55.9% YTD
5. Tattooed Chef (TTCF): DOWN -5.9% and now DOWN -17.0% YTD

The average market capitalization of the above 5 stocks is $297M with an average stock price of $11.10/share.

Please note that:

• Plant & Company Brands (VGANF), Eat Beyond Global (EATBF), Plant Fuel Life (CSE: FUEL),  Modern Plant Based Foods (MDRNF), Nepra Foods (CSE: NPRA) and Tofutti Brands (TOFB), with market capitalizations of less than $100M, and Beyond Meat (BYND), with a whopping $6.9B market capitalization and price of $109.69/share, are excluded from the Index as their inclusion would mask the performance of the other plant-based food stocks in the sector.

The 5 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.