E Plant-Based Food Stocks Index Continues To Sour

 TM Editors' Note: This article discusses some penny stocks and such stocks are readily manipulated so do your own due diligence.

The Pure-Play Plant-Based Food Stocks Index* tracks the 11 stocks in the fledgling plant-based fake meat, dairy, eggs, and seafood sector and it has continued to decline in April. 

Photo by zenad nabil on Unsplash

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, according to Meticulous Research, will be worth $74.2 billion in the next seven years. The plant-based meat market, specifically, will be worth $35.4 billion by 2027, according to Polaris Market Research. 

Stock Performance Comparisons

The Index is divided into two groups – those seven (7) 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 sector.

Below are their stock performances so far in April, in ascending order, and YTD, in brackets, with the most recent news on every company.

  1. Plant & Co Brands (VGANF): -42.3% (-63.4% YTD) to $0.15/share
    • No noteworthy news
  2. Sire Biosciences (BLLXF): -30.0% (+300%) to $0.28/share
    • Announced that its wholly owned supplements subsidiary, Fusion Nutrition Inc., will be launching 3 new creatine products in the coming 12 weeks in addition to Purple K, Canada’s top selling creatine pills.
  3. Eat Beyond Global (EATBF): -28.0% (-42.6% YTD) to $1.08/share
    • No noteworthy news
  4. Else Nutrition (BABYF): -18.5%  (-38.6% YTD) to $1.94/share
    • No noteworthy news
  5. Tofutti Brands (TOFB): -16.8% (+41.0% YTD) to $2.58/share
    • Issued its results for the fiscal year ended January 2, 2021 which showed a 5.2% increase in net income, a 5.3% increase in gross profit and a gross profit percentage that remained steady at 31%. 
  6. Modern Plant Based Foods (SUVRF): -24.2% (-47.2% YTD) to $1.69/share
    • No noteworthy news
  7. The Very Good Food Company (VRYYF): -7.6% (-25.2% YTD) to $3.85/share
    • No noteworthy news
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