Image by Sean Hayes from Pixabay

In previous articles I wondered out loud how much further the largest plant-based food stocks would decline before finally reaching bottom but, given the performance of the munKNEE Plant-based Food Stocks Index (which tracks the five (5) plant-based food companies that have a market capitalization of at least $50M) this week, it appears the bottom is NOT in - just yet.

Below is a summary of how well the Index constituents performed this week, in descending order, in the past 6 weeks (since the end of October), and YTD:

1. Tattooed Chef (TTCF): UP  8.0% this week; DOWN 71.4% in the last 6 weeks; DOWN 91.3% YTD
   • 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
2. Else Nutrition (BABYF): UP  5.1% this week; DOWN 19.6% in the last 6 weeks; DOWN 53.9% YTD
   • 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.
3. Guru Organic Energy (GUROF): No Change this week; DOWN 51.5% in the last 6 weeks; DOWN 91.3% YTD
   • a Montreal, Canada beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink
4. Oatly Group (OTLY): DOWN  4.2% this week; DOWN 44.9% in the last 6 weeks; DOWN 82.9% YTD
   • the world’s largest oat drink company catering primarily to customers in Sweden, Germany, the United Kingdom, Netherlands, Finland, and North America
5. Beyond Meat (BYND): DOWN  5.0% this week; DOWN 8.4% in the last 6 weeks; DOWN 78.3% YTD
   • 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

In total, the munKNEE Plant-Based Food Stocks Index went DOWN 3.4% this week, has gone DOWN 28.8% in the last 6 weeks, and is now DOWN 81.1% YTD.

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