Pure-Play Plant-Based Food Stocks Index Continued To Sour In May; -24% YTD

TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

The Pure-Play Plant-Based Food Stocks Index tracks 10 stocks in the fledgling plant-based fake meat, dairy, eggs, and seafood sector. It was -2% in May and is now -24% YTD. 

Chris Thompson, President and Director of Equity Research at eResearch Corporation, the new parent company of munKNEE.com, reports that:

  • about 9.7 million Americans now follow a plant-based diet up from just 290,000 in 2004,
  • year-over-year sales are growing by 11.4% p.a.,
  • the market sector should be worth $74.2 billion in the next seven years of which the plant-based meat market, specifically, will be worth $35.4 billion by 2027, and that
  • online grocery sales of vegan products are growing 5x faster than other product categories, generating the highest growth in the consumer goods sector.

The 10 stocks in the Pure-Play Plant-Based Food Stocks Index consist of:

  • 5 nano-cap stocks (Group #1) with market capitalizations ranging from $11M to $43M and average just $20M, and
  • 5 micro-cap stocks (Group #2) with market capitalizations ranging from $176M to $546M and an average $365M.

Below is the stock price performance for each Group for the month of May (and YTD in brackets) in descending order, with the advancers and decliners in each Group over that period of time with the most recent major news on every company:

The 5 stocks in Group #1:

  1. Tofutti Brands (TOFB): +28.8% (+90.7% YTD) to $3.49/share
    •  reported favorable, albeit delayed, Q1, 2021, financial results
  2. Plant & Co Brands (VGANF): +5.9% (-56.1% YTD) to $0.18/share
    • reported a 53% increase in monthly sales for April 2021 compared to February 2021 as a result of the closing of the Holy Crap Breakfast Cereal acquisition in February 2021.
  3. PlantFuel Life (CSE: FUEL)(BLLXF): -16.1% (+271.4% YTD) to C$0.26/share
    • changed its name from Sire Bioscience Inc. to PlantFuel Life Inc. and began trading under the new name and ticker symbol “FUEL” effective at the opening of trading on Friday, April 30, 2021.
    • announced that it had entered in to a nationwide distribution agreement with leading retailer, GNC, effective August 2021
  4. Modern Plant-Based Foods (MDRNF): -17.6% (-54.7% YTD) to $1.45/share
    • announced that it is expanding its presence in the province of Alberta, Canada, through Calgary Co-Op retail outlets with the listing of their Modern Crab-less Cakes.
  5. Eat Beyond Global (EATBF): -31.9% (-56.9% YTD) to $0.81/share
    • announced that it has invested in Daydream Drinks Inc., a beverage company that has created Canada's first sparkling water infused with hemp extracts and adaptogens.
    • announced that its portfolio company good-natured (TSXV: GDNP) has acquired the operating assets of Ex-Tech Plastics Inc. for cash consideration of $14.1 million (USD).
    • announced that its portfolio company Nabati Foods Global Inc. recently completed construction of a new manufacturing facility in Edmonton, Alberta, which is roughly five times larger than the original pilot plant.

Average Sub-Total Performance in May was: +0.8% and is -16.25 YTD

The 5 stocks in Group #2:

  1. Else Nutrition (BABYF): +15.1%  (-46.2% YTD) to $1.86/share
    • reported Q1 2021 revenues of C$1,135 thousand, an 90% growth over revenues of C$598 thousand in Q4 2020.
    • announced that PCC Community Markets, the largest consumer-owned food cooperative in the United States has listed its products at all 15 locations in Washington State.
    • announced that it will begin distribution with Salt Lake City-based Associated Food Stores through its six corporately owned store banners and 400 independent grocers in several Western mountain states. 
  2. Guru Organic Energy (CSE: GURU)(GUROF): -4.7% (-22.9% YTD) to C$15.58/share
    • announced that GURU Yerba Mate will be available for delivery effective June 1, 2021, across U.S. grocery, natural, c-stores, and drug channels through GURU’s distribution partners and online, via Amazon and guruenergy.com.
  3. The Very Good Food Company (VRYYF): -8.1% (-25.2% YTD) to $3.65/share
    • announced favorable financial results for its first quarter ended March 31, 2021.
    • unveiled its new product line of plant-based cheeses to be relaunched under its new brand The Very Good Cheese Co.
    • signed a U.S. distribution agreement with United Natural Foods to increase its growing presence in the U.S. plant-based foods market having done so with UNFI in Canada in the previous quarter.
    • announced plans to launch an eCommerce sales platform in the U.K. in Q3 and an online platform in the EU in late Q4.
  4. Laird Superfood (LSF): -10.5(-32.5% YTD) to $32.68/share
    • reported financial results for its first quarter ended March 31, 2021, that missed analyst projections on revenue and earnings/share.
    • entered into a definitive agreement to purchase all of the equity interests of fellow Central-Oregon-based Picky Bars for $12M in cash.
  5. Tattooed Chef (TTCF): -20.2% (-7.0% YTD) to $21.28/share
    • announced it has launched two of its original vegetable products in Whole Foods Market stores nationwide.
    • reported disappointing financial results for the three months ended March 31, 2021
    • entered into agreements to acquire New Mexico Food Distributors, Inc. and Karsten Tortilla Factory, LLC (collectively referred to as “Foods of New Mexico”) for approximately $35 million in cash.

Average Sub-Total Performance in May was: -2.2% and is 24.8% YTD

Summary: The Pure-Play Plant-Based Food Stocks Index Performance was -2.2% in May and is -24.0% YTD.

Beyond Meat (BYND) is not included in the Index given its large market capitalization ($9.2B) and high share price ($140.42/share) which would mask the performance of the plant-based food stocks sector. That being said, however, it was +10.4% in May and is +3.9% YTD.

Please note: The 10 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.

Visit  munKNEE.com and register to receive our free Market Intelligence Report newsletter (sample  more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.