Plant-Based Food Stocks Continue To Wilt

Image by Sean Hayes from Pixabay

The 5 stocks in the munKNEE Pure-Play Plant-Based Food Stocks Index consist of companies with market caps in excess of $50M which trade on Canadian and/or American stock exchanges. The Index continues to trend downward, going down 14.7% this past week, and is now down 35.6% since the end of July and down 68.8% YTD. In comparison, the Nasdaq - on which many of these stocks trade - dropped just under 6% for the week.

Below are the performances of the constituents in the index last week, in descending order, and YTD.

  1. Else Nutrition (BABYF): No Change in price last week; DOWN 33.7% 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.
  2. Guru Organic Energy (CSE: GURU; GUROF); DOWN 0.5% last week; DOWN 66.3% YTD
    • a Montreal, Canada beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink.
  3. Oatly Group (OTLY): DOWN 8.6% last week; DOWN 62.4% YTD
    • the world’s largest oat drink company catering primarily to customers in Sweden, Germany, United Kingdom, Netherlands, Finland, and North America.
  4. Tattooed Chef (TTCF): DOWN 13.6% last week; DOWN 62.4% 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.
  5. Beyond Meat (BYND): DOWN 18.9% last week; DOWN 71.9% 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 Pure-Play Plant-Based Food Stocks Index went DOWN 14.7% last week and is now DOWN 35.6% since the end of July and 68.8% YTD.

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