Stock market – Page 2 – vegconomist – the vegan business magazine

©Oatly

Oatly Shares Rise as Revenue Jumps 13.9% & Company Secures $425M

March 21, 2023

Oatly shares have seen a boost following the publication of the company’s fourth-quarter and full-year financial results for 2022. Q4 revenues reached $211.7 million, an increase of 13.9%. This followed an increase in sales volumes in China after the easing of lockdown restrictions, along with price rises across the company’s product range. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”We have a clear line of sight to reaching profitability”[/perfectpullquote] Oatly expects further revenue growth of 23-28% in 2023. The company reported a $347.4 million loss in EBITDA last year, but expects to achieve a positive adjusted EBITDA by 2024. Following the publication of the results, Oatly shares jumped 11.2% to $2.27, taking the total increase so far this year to 13%. However, share prices remain …

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Ethan Brown © Beyond Meat

Beyond Meat Stock Surges 15% After Cutting Losses and Improving Margins

February 25, 2023February 24, 2023

On Friday, Beyond Meat beat analysts’ expectations for its fourth quarter results, shrinking its losses and reporting higher-than-expected revenue. The news sent Beyond shares soaring by 15% in after-market trading. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”We are transitioning our business… to one that prioritizes cash flow and sustainable long-term growth”[/perfectpullquote] In an earnings call, Beyond Meat CEO Ethan Brown said that Q4 concluded a “[C]hallenging year for our business and category, one marked by persistently high inflation and trading down by consumers among proteins, slowing economy in key markets, and increased competitive activity.” Indeed, the company reported a 21% decline in revenue and lower sales across “all channels”, including a 17% drop in US grocery sales and a 30% sales decline in food …

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©Beyond Meat

Nasdaq: Beyond Meat Stock Could Soon Double in Value

February 13, 2023February 8, 2023

2022 was a difficult year for Beyond Meat, as the company battled the forces of historic inflation and a marked slowdown in sales of plant-based meat. But there are growing signs the company may be in the midst of a turnaround – last week, Beyond revealed a series of strategic moves meant to reverse its declining sales – including hiring a former Red Bull executive as its new head of global marketing, pivoting its retail strategy, and creating a new plant-based nugget for McDonald’s. In light of these and other developments, some Nasdaq analysts are suggesting Beyond’s stock could potentially double in value in early 2023. Growing stronger Since the start of the year, Beyond’s stock price has steadily climbed in value – on Wednesday, …

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Lien Pham

VegTech and EATV Receive ‘Groundbreaking’ Carbon Neutral Certification Without Buying Credits

January 21, 2023January 20, 2023

VegTech Invest Plant-based Innovation & Climate ETF (NYSE: EATV) announces it has received what it calls groundbreaking certification from climate services firm Ethos ESG. The certification awarded to EATV, Carbon Neutral Without Buying Credits, is reportedly the first such recognition from Ethos. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”From an emissions reduction perspective, the plant-based protein sector may be one of the most accessible and impactful areas”[/perfectpullquote] According to VegTech, while most of Ethos’ Carbon Neutral Certifications compare the carbon footprint of a portfolio with purchased offsets, the Plant-based Innovation Certification promoted by EATV considers carbon emissions avoided by replacing animal products with a less carbon-intensive food and materials supply chain. This means investments made by EATV are proactively helping to reduce carbon emissions …

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©Sensible Hot Dogs

Canada: Sensible Hot Dogs Raises Nearly $12M to Disrupt American Hot Dog Market

January 20, 2023

Sensible Hot Dogs, an innovative plant-based hot dog company, announces it has raised $11,990,000 in non-brokered private financings. The announcement follows Sensible’s public debut on Canada’s NEO Exchange in 2022 under the symbol “HOTD.” [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”The revolution in nutrition, taste, and reduced environmental impact starts with us”[/perfectpullquote] Sensible Hot Dogs says it is on a mission to recreate hot dogs, America’s favorite street food, using less processed and more natural ingredients. According to The National Hot Dog and Sausage Council, Americans consume a massive 20 billion hot dogs every year. Currently, 95% of American homes eat hot dogs, while the average US resident consumes about 70 hot dogs annually. Despite their popularity, the negative health consequences of eating conventional …

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Number of IPOs Worldwide Dropped by Almost Half Throughout 2022

January 17, 2023

Balance for 2022 as a whole: the number of IPOs in 2022 falls by 45 percent compared to the record year 2021, volume by 61 percent / 50 percent fewer IPOs in the fourth quarter, issue volume shrinks by 73 percent. These are the results of the current IPO barometer of the audit and consulting firm EY. Companies continued to hold back on IPOs towards the end of the year: a total of 334 companies worldwide took the plunge in the fourth quarter – 50 percent fewer than in the fourth quarter of the record year 2021. The issue volume fell by 73 percent to 31.9 billion US dollars. The picture is similar for the year as a whole: the number of IPOs worldwide fell …

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©Sensible Hot Dogs

Plant-Based Startup Sensible Hot Dogs Makes Public Debut on Canada’s NEO Exchange

December 23, 2022

Hot dog startup Sensible Hot Dogs announces it has launched its common shares on Canada’s NEO Exchange, and is now publicly trading under the symbol NEO: HOTD. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”Our debut on the NEO Exchange is a significant milestone for our company”[/perfectpullquote] Based in Canada, Sensible is described as an innovative hot dog company creating tastier and healthier versions of America’s favorite street food. By combining clean and sustainable ingredients with a functional price point, the company seeks to reinvent consumers’ experience with plant-based foods. “Our debut on the NEO Exchange is a significant milestone for our company as we look to leverage the capital markets to fuel our growth with the support of a Tier 1 exchange,” commented Shawn …

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Karim Pichara & Matias Muchnick © NotCo

NotCo Raises $70M to Catapult New B2B Platform Ahead of IPO

December 12, 2022December 12, 2022

NotCo announces it has closed $70M in Series D1 funding to “catapult” a new B2B unit and accelerate the transformation of the industry, with Forbes suggesting today that the Chilean unicorn is “actively preparing for an IPO likely in 2025”. “These partnerships will help diversify and accelerate our impact while scaling the accessibility of truly delicious plant-based options to further propel the industry forward” The new platform will enable other CPG brands, ingredient suppliers and tech providers to leverage NotCo’s AI platform “Giuseppe” for their own innovations, while NotCo will continue to operate its branded business, NotCo Food, offering products like NotMilk™, NotBurger™ and NotChicken™ through both retail and food service across the US. Kraft Heinz Not Company The news comes three days after the …

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Beyond Meat CEO Predicts Category “Shakeout” as Company Reports Widened Q3 Losses

November 11, 2022

On Nov. 9, Beyond Meat reported its 2022 third-quarter earnings, and results showed wider-than-expected losses and decreased revenue as the company continues to battle the pressures of inflation. Despite lowered forecasts, Beyond’s stock soared 20% during Thursday’s market trading. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”As consumers intensify focus on making ends meet, health and environmental considerations take a back seat”[/perfectpullquote] According to CEO Ethan Brown, inflation has taken a heavy toll on sales of the company’s plant-based burgers, sausages and chicken, with price-weary consumers opting for cheaper proteins. During its Wednesday earnings call, the company said total pounds sold fell 12.8%, while net revenue per pound decreased by 11.2%. Overall, the company posted a third-quarter net loss of $101.7 million ($1.60/share), which is …

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©Beyond Meat

Beyond Meat Posts Second-Largest Net Revenue in Q2, But Missed Earnings Lead to Layoffs and Cutbacks

August 8, 2022August 6, 2022

On Thursday, plant protein leader Beyond Meat (NASDAQ: BYND) reported its 2nd quarter results for 2022, and the company’s missed earnings have led to some layoffs and lowered revenue prospects amid ongoing economic turbulence. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”We are confident we will emerge from the current economic climate leaner and stronger”[/perfectpullquote] Net revenues for Q2 in 2022 were $147.0 million, a decrease of 1.6% year-over-year. The company posted a gross profit loss of $6.2 million, or a gross margin of -4.2% of net revenues. Beyond also decreased its net revenue forecast, from the previous expectation of a 21% to 33% increase (US$560 million to $US620 million) to 1% to 12% year-on-year (US$470 million to US$520 million). According to Beyond CEO Ethan …

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©Steakholder Foods

MeaTech 3D Changes Name to Steakholder Foods to “Cultivate New Community of Meat Lovers”

August 3, 2022

MeaTech 3D Ltd., the first world’s first publicly listed cultivated meat company, announces it is changing its name to Steakholder Foods Ltd. (Nasdaq: STKH.) The new name is intended to reflect the company’s commitment to building a strong community of meat lovers who support changing the world through cultured meat production. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”We can and should create a world where people everywhere continue enjoying their favorite meat sustainably”[/perfectpullquote] Founded in Israel, Steakholder is a leading innovator in the cultivated meat industry, having developed cutting-edge technology and processes to produce whole cuts of animal meat using 3D bioprinting technology. In December 2021, the company printed the largest-ever cultured steak, which weighed in at 3.67 oz. Recently, it secured its first …

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Martijn Rozemuller CEO Europe ©VanEck

VanEck Launches New ETF for Global Alt Protein & Sustainable Food Production

July 6, 2022

Global investment manager VanEck has launched a new European exchange-traded fund (ETF) for sustainable food companies. With the aim of providing exposure to companies such as plant-based meat and dairy producers, VanEck claims the ETF provides an efficient vehicle for accessing the companies benefitting from these long-term structural trends. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””] “The production of food, especially meat, harms both the environment and health” [/perfectpullquote] With global population increases and climate change-related disruptions to an already fragile food system, ETF and mutual fund manager VanEck recognizes the need to drive sustainable agricultural processes and technologies. Plant-based meat and dairy alternatives, vertical farming, precision agriculture, functional ingredients, and vegan organic and health foods will all form part of the platform, …

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©Lien Pham

VegTech and Top Investors Celebrate NYSE Listing of EATV – First Plant-Based Innovation ETF

June 27, 2022June 27, 2022

On June 23rd, VegTech Invest gathered nearly 100 investors, bankers, innovators and Broadway entertainers to celebrate the listing of the VegTech Plant-based Innovation & Climate ETF (NYSE: EATV) on the New York Stock Exchange. The event included a visit to the exchange floor for a fund overview and a toast by members of The Good Food Institute. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”We are proud to create a completely new impact asset class”[/perfectpullquote] VegTech Invest advises the VegTech ETF, which first launched in December 2021 as the world’s first ETF focused on plant-based innovation and alternative proteins. According to VegTech, the ETF is a “pure play” in plant-based industries and is helping the sector gain critical exposure. As of May, its top constituents …

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©Moolec Science

$504M Moolec to Become “World’s First” Molecular Farming FoodTech Listed on Nasdaq

June 16, 2022

Moolec Science has entered a new business agreement that will see it become the first molecular farming foodtech to be listed on Nasdaq. The foodtech ingredient pioneer is aiming to become a category creator in the alternative protein landscape and has entered a definitive business combination agreement with LightJump Acquisition Corp, a special purpose acquisition company. UK-based Moolec focuses on developing real animal proteins in plants using molecular farming; a scalable, affordable, and sustainable technology which is the production of animal proteins using plants as small factories. The transaction sets Moolec’s proforma equity value at $504 million and upon closing the combined company is expected to be listed on Nasdaq under the ticker symbol “MLEC”. Targeting the rapidly expanding alt protein sector, Moolec claims its …

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VegTech Invest Releases Video Describing Harmful Effects of Animal Ag For Earth Day

April 20, 2022

VegTech™ Invest, advisor to the VegTech Plant-based Innovation financial products, including the VegTech™ Plant-based Innovation & Alternative Proteins Index (Ticker EATVI), releases a no holds barred video for Earth Day, intending to educate the public on animal ag’s negative practices. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”We wanted to share these facts with the financial community at large”[/perfectpullquote] Animal ag: outdated in every way “Animal agriculture is the leading cause of deforestation, a major contributor to climate change, and an inefficient, resource-intensive system that isn’t capable of feeding a growing population of almost 10 billion by 2050. An outdated system in every way, we wanted to share these facts with the financial community at large,” says CEO of VegTech™ Invest, Elysabeth Alfano. “Plant-based Innovation …

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After Terminating CEO, The Very Good Food Company Embarks on New Strategy

April 21, 2022April 20, 2022

The Very Good Food Company, the parent company of Canadian plant-based meat producer The Very Good Butchers, (NASDAQ: VGFC) is undertaking a new profit strategy following the departures of CEO Mitchell Scott and co-founder James Davison. In a statement, the company announced Scott was terminated while Davison resigned as Chief Research and Development Officer. The shakeup comes as Very Good faces considerable difficulty in turning a profit – the company has been unable to achieve profitability since its inception in 2016. On April 1 the company showed a dramatic loss of CAD54.6M (US$43.6M) in fiscal year 2021. The price of its Canadian shares has also dropped 80% in the past 12 months. A new way forward In an effort to correct course, Very Good now …

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Planet Based Foods Gets New Listing on OTCQB Market and DTC Approval

March 31, 2022

Planet Based Foods, which produces hemp-based meat products, announces the company has begun trading its subordinate voting shares on the US-based OTCQB equity market under the symbol “PBFFF”. In addition to trading in the US, Planet Based Foods’ subordinate voting shares continue to trade on the Canadian Securities Exchange (CSE) as “PBF” and the German Börse Frankfurt (FRA) exchange under the symbol “AZ0”. Planet Based says the move will increase its visibility and transparency while enhancing liquidity and shareholder value. The OTCQB is a mid-tier equity market recognized by the United States Securities and Exchange Commission which provides public information for analysis and value of securities. Planet Based says it has also received approval from DTC, a subsidiary of the Depository Trust and Clearing Corporation. …

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MycoTechnology Closes $85M Series E, Bringing Total Raise to $200M, in Preparation for IPO?

May 4, 2022March 30, 2022

MycoTechnology, Inc., which describes itself as the world’s leading explorer of mushroom mycelia, announces it has closed a Series E round of $85 million bringing its total to over $200M. Notable returning investors in the round include Tyson Ventures and Maple Leaf Foods. IPO in late 2022? Tyson, Greenleaf Foods, and Kellogg’s were notable participants in the company’s August 2020 Series D, during which an IPO for late 2022 was discussed, with CEO Alan Hahn commenting to FoodNavigator at the time that there were some exciting projects coming up that may “trigger” the opportunity to become publicly listed. In the November of that same year, Mycotechnology was named winner, along with BlueNalu, of Syngenta’s Radicle Protein Challenge, an initiative to invest a total of $1.25 …

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VegTech Invest Launches First Plant-based Innovation & Alternative Proteins Index

March 30, 2022March 29, 2022

VegTech Invest, the firm behind the first Plant-based Innovation & Climate ETF (NYSE: EATV), is officially launching the VegTech™ Plant-based Innovation & Alternative Proteins Index. Calculated and distributed by Morningstar Indexes, the new index aims to lead and define a new global investment category. According to VegTech, the index also serves as a benchmark for the emerging plant-based and alt-protein sector. It focuses on large, mid-, and small-cap companies that produce, among other innovations, consumer packaged goods, ingredients, biotechnology, and agtech using plant-derived or animal-free technologies. By offering these companies increased exposure, the index aims to attract greater investment toward a more eco-friendly, efficient and cruelty-free food supply chain. “An underweighted sector” Before listing its calculated index, VegTech first introduced a non-weighted tracking index, The …

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Wall Street Green Summit to Feature Elysabeth Alfano as Key Speaker on Plant-Based Investing

March 15, 2022

The premier ESG and sustainability investing summit, Wall Street Green Summit, has invited plant-based business expert and CEO Elysabeth Alfano to talk about sustainable investing through plant-based innovation and alternative proteins. The event takes place from March 28-31. Elysabeth is the CEO of VegTech™ Invest and advisor to the active VegTech Plant-based Innovation & Climate ETF (Ticker EATV). Elysabeth states: “This year’s summit is focused on the two hottest sustainable finance markets in 2022 – ESG and Carbon. I am excited to add a third market: plant-based innovation and alternative proteins.” Says Peter C. Fusaro, founder of the Wall Street Green Summit: “There has never been a time like this for ESG investing. We are very pleased that Elysabeth Alfano is joining us at the …

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