Above Food

© Above Food

Above Food Corp. Goes Public: Shares Now Trading Under ‘ABVE’ on Nasdaq

Above Food Corp., a vertically integrated plant-based food company, announced the start of trading for the common shares and warrants of Bite Acquisition Corp. (formerly NYSE AMERICAN: BITE) and Above Food under the combined entity, Above Food Ingredients Inc. Trading begins today, July 1, on the Nasdaq Stock Market with the ticker symbols “ABVE” and “ABVE.W.” The business combination was approved by Above Food shareholders on June 7, 2024, and Bite’s stockholders on April 29, 2024. The transaction was finalized on June 28, 2024. Lionel Kambeitz, founder, CEO and executive chairman of Above Food Ingredients Inc., remarked on the milestone: “The completion of our business combination marks a major step forward in our vision to drive transformative change across the entire food value chain.” Strategic …

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beyond meat investor profile

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Despite 8th Consecutive Quarterly Decline, Ethan Brown Predicts a “Pivotal and Terrific Year” for Beyond Meat

Beyond Meat has reported its Q1 2024 financial earnings, communicating a continued decline in revenue, prompting a nearly 14% drop in the company’s stock. Net revenues fell 18% year-over-year to $75.6 million, marking the eighth consecutive quarter of year-over-year revenue declines for the company.  This development follows a significant surge in the company’s stock value in February after Beyond announced its 2023 Q4 earnings. Despite a nearly 8% decline in Q4 revenue compared to the previous year, Beyond Meat received favorable reviews from analysts during the recent earnings call. This positive feedback was due to the fact that, although US sales decreased, the company’s performance exceeded analyst expectations. The decrease in revenue in Q1 was largely due to a 16.1% reduction in the volume of …

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Irish consumers go plant-based

© Oatly

Oatly Stock Rises Following Promising Q1 Financial Results

Leading oat milk producer Oatly has published its financial results for the first quarter of 2024, revealing an “encouraging start to the year”. The results have boosted Oatly stock, which is up 3.42% and has risen above the 200-day line. Compared to the same period last year, Oatly’s Q1 revenue rose by 1.8% to $199.2 million, while constant currency revenue increased by 1.2% due to growth in the North America and Europe & International segments. Gross margin reached 27.1%, up 9.7 percentage points. First quarter net loss was $45.8 million, an improvement of $29.8 million compared to Q1 2023; meanwhile, adjusted EBITDA loss was $13.2 million, a $36.7 million improvement. These results indicate that Oatly is moving towards break-even. For the remainder of 2024, Oatly …

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Beyond Meat company logo on a website with blurry stock market developments in the background, seen on a computer screen through a magnifying glass

© Dennis - stock.adobe.com

10 Vegan Stocks We’re Watching and Why

According to data from Acumen, the global vegan food market revenue is poised to reach $49.6 billion by 2032 with a CAGR of 11.8% from 2023 to 2032. Investors aiming to tap into the rising interest in the vegan industry have a range of opportunities to consider, from stable, long-established companies like SunOpta to emerging, higher-risk ventures such as CULT Food Science Corp. Here are 10 vegan stocks that we are watching this year and why (to reveal the stock charts simply click the first check box). Beyond Meat (NASDAQ: BYND) Despite market volatility and competitive pressures, Beyond Meat remains a leader in innovation within the plant-based meat sector. While the current stock price is sitting significantly lower than the recent highs experienced after its …

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What You Need To Know Before You IPO: George Khalife of Toronto Stock Exchange

George Khalife, VP of US Capital Formation on the Toronto Stock Exchange (TSX) at TMX Group joins Elysabeth on The Plantbased Business Hour With Elysabeth Alfano to discuss taking Plant-based Innovation brands public on the exchange. Here, they break down what you need to know before you IPO. Specifically, they discuss: What is the TSX history with taking plant-based brands public? What have been the TSX successes and trouble spots with that? What is your view on taking plant-based brands public on TSX going forward? What is your view on the sector as a whole: past, present and future? What do companies need to know before they IPO? Below is a highlight clip and transcription from their long-form conversation. Podcast link here. Display content from …

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Beyond Meat stock chart on mobile phone

© Timon - stock.adobe.com

Examining the Beyond Meat Stock Surge After the Earnings Call

It is too early to say if Beyond Meat is bouncing back, but the brand did enjoy a small rally since its earnings call last week. Far from being out of the woods, why did The Street respond positively to CEO Ethan Brown’s call?  Here are VegTech™ Invest CEO Elysabeth Alfano and Chief Investment Officer Sasha Goodman’s comments on analysts’ response to Beyond Meat, including a bit of the stock’s history. Wild Ride IPO Beyond Meat IPO’d during an exuberant time in 2019 with the stock rising 163% in one day, the largest rise of an IPO stock since 2008.  It was exciting, to say the least.  The valuation back then, however, was more aligned with the tech companies of the DotCom bubble than with …

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Chef Woo noodles beef in bag

© Chef Woo / Borealis Foods

Borealis Foods Inc, Maker of Gordon Ramsay-Backed Chef Woo Vegan Ramen, Announces NASDAQ Listing

Ontario-based Borealis Foods, a food tech company focused on vegan ramen products, announces today that it will commence trading on the Nasdaq under the ticker “BRLS” on February 8, 2024, following the closing of its previously announced business combination (“the Business Combination”) with Oxus Acquisition Corp. (“Oxus”). Borealis explains its focus on ramen products, stating that the noodles are enjoyed by over 5 billion people in a $40B global market, making it the most widely consumed packaged food on the market. “It is shelf-stable, convenient and offers one of the highest turnover for retailers. The category is ripe for disruption in a market limited by product differentiation, low retail profit margins, lackluster new product development and poor consumer perception,” says the Canadian brand. Ramsay’s touch …

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Oatly x Carvel

© Oatly

Oatly Partners With Carvel to Launch Oat Desserts in Nearly 300 US Stores, Oatly Stock Rises by 12%

Oatly, a global leader in oat milk production, has announced a new partnership with Carvel, one of America’s most beloved classic ice cream stores. Recently, the company partnered with Insomnia Cookies to serve Oatly’s Original and Chocolate Oatmilks in 250+ locations across North America, which prompted a stock surge of over 30% following the announcement. Similar trends follow this partnership announcement with Carvel, evidenced by a 12% rise in Oatly’s stock in the past 24 hours. An Oatly twist on classic favorites The collaboration introduces Oatly’s non-dairy frozen desserts in nearly 300 Carvel locations across 18 states, giving Carvel’s traditional dairy-centric offerings a plant-based upgrade. Drew Martin, EVP of Commercial Sales, Oatly North America, expressed his enthusiasm about the partnership: “With ice cream traditionally being …

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Hain Celestial NASDAQ

© Hain Celestial

Hain Celestial Celebrates 30th Anniversary on the NASDAQ Exchange

Better-for-you brand manufacturer, The Hain Celestial Group, Inc. (NASDAQ: HAIN), celebrates its 30th anniversary of being listed on the NASDAQ. The occasion was marked by president and CEO Wendy Davidson, alongside Hain’s Executive Leadership team, ringing the Closing Bell at NASDAQ in Times Square, New York, on January 4, 2024. Davidson stated, “Today marks a significant milestone and a pivotal turning point in our company’s history. Our purpose is to inspire healthier living for people, communities, and the planet. We are proud and honored to celebrate with NASDAQ during Wellness Week to recognize our important role as a leader in better-for-your brands.” For 30 years, Hain Celestial has continued to grow its presence in the natural and organic space through brand acquisitions and now has …

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Oatly chocolate milk

© Oatly

Oatly Stock Surges Following Partnership Announcement with Insomnia Cookies

Oatly Group AB (Nasdaq: OTLY), the “world’s largest oat drink company,” known for its witty marketing campaigns, has announced a new collaboration in the US with Insomnia Cookies. Present at all 250+ locations across North America, Oatly’s 11oz Original and Chocolate Oatmilks are now featured alongside Insomnia Cookies’ assortment of signature warm cookies, desserts, and ice creams. Stock surge follows announcement Following a steady decline since mid 2021, Oatly’s stock surged by well over 30% after the announcement of the new partnership and has since leveled out. The company has been shifting toward an “asset-light supply chain strategy” in an effort to boost profitability and has stated that it is on track to post profits this year. Part of this strategy has included transferring plant …

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What Happened to the Beyond Meat and Oatly Stocks?

Dr. Sasha Goodman, Chief Investment Officer of VegTech Invest, joins Elysabeth Alfano, CEO of VegTech Invest to discuss what has happened to the Beyond Meat and Oatly Stocks and, conversely, the large landscape of Plant-based Innovation companies in the public markets that are thriving. Think that Beyond Meat and Oatly are the only publicly traded plant-based innovation companies? Think again. Learn about the depth of the sector in this special episode of the Plantbased Business Hour, taken from the Upside & Impact: Investing for Change podcast, now also on the New York Stock Exchange’s platform, ETFCentral.com. Specifically, they discuss What other companies are publicly traded that are focusing on plant-based innovation? What common misconceptions exist about the alt protein sector? What is driving food systems innovation and is …

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NYSE logo

© NYSE

Upside & Impact: Investing for Change Podcast Launches on ETF Central.com

VegTech™ Invest announces that The Upside & Impact: Investing For Change podcast, hosted by CEO Elysabeth Alfano, is now available on ETFCentral.com, a destination website and platform for ETF investors and practitioners operated by Trackinsight and the New York Stock Exchange. The podcast airs twice monthly, every other Wednesday, and is produced by VegTech™ Invest, a Registered Investment Advisor focused on investing in public companies innovating for sustainable food systems transformation throughout the supply chain. On the podcast, Elysabeth dives deep with leaders in the impact investing space to uncover the potential financial upside and long-term impact of investing in sustainable sectors like alternative energy, transportation, building materials, biodiversity and natural-based solutions, and sustainable food systems transformation. Topics will range from protecting biodiversity and natural …

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Sprout growing out of money

Supplied by Elysabeth Alfano

What Happened to the Beyond Meat and Oatly Stocks and What You Need To Know Before Your Company IPOs

Insights from a Good Food Conference roundtable: what happened to the Beyond Meat and Oatly stocks and what you need to know before your company IPOs. At the Good Food Conference last week, a roundtable discussion took place on how the public markets inform the private markets and what has happened to the Beyond Meat and Oatly stocks.  So much has changed since the heyday of the plant-based foods boom of 2019, 2020, and the first half of 2021.  The public markets took a downturn in the last half of 2021, and this, in turn, caused a tightening in venture capital by 2022 as the private markets follow the public markets usually by around six months. It takes a while for the trickle-down of the …

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People eating Beyond Meat around grill

©Beyond Meat

Chiron Capital Management Makes Strategic Investment in Beyond Meat, Recognizing the Potential of Plant-Based Meat

Chiron Capital Management reportedly purchased 10,953 shares of Beyond Meat (NASDAQ: BYND) at an estimated value of $178,000 in Q1, 2023 — a move signaling that the US fund is confident of the potential success of Beyond Meat and the plant-based meat market.  The online platform Beststocks states that this strategic investment is fueled by thorough analysis and an astute understanding of market trends. It argues that by investing in Beyond Meat, Chiron Capital Management is part of a growing group of companies that recognize the potential of the alt protein sector. In February, Beyond Meat’s NASDAQ shares increased by 15% and months later reached its highest point in 52 weeks on the Frankfurt Stock Exchange. In May, better-than-expected Q1 results boosted Beyond Meat stock …

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Beyond Meat plant-based chicken burger

© Beyond Meat

Beyond Meat to Raise $200M in Equity Offering as Q1 Results Surpass Expectations

Beyond Meat has reported that it is seeking to raise up to $200 million in an equity offering for “general corporate and working capital purposes”. The sales could be made at any time, either over the counter or negotiated privately. Goldman Sachs will be the sales agent. The news comes after the company posted better-than-expected results for the first quarter of 2023, with a smaller loss and greater revenue than predicted by Wall Street. Net loss narrowed to $59 million, while net revenue was $92.2 million — $1.4 million greater than expected. Following the publication of the results, shares in Beyond rose by 11% in extended trading before paring gains. Stronger revenue growth is now expected for the remainder of the year; Beyond’s food service …

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LomaLinda_TUNO_Lifestyle

Loma Linda / Atlantic Natural Foods

Above Food Corp. to Be Listed on NY Exchange Through SPAC, Plans Takeover of Atlantic Natural Foods

Canada’s Above Food, producer of plant-based ingredients and CPGs, is to list on the NY exchange through a SPAC transaction with Bite Acquisition Corp. Additionally, the company is set to purchase Atlantic Natural Foods, whose subsidiaries include plant-based brands Loma Linda, CHICK’N, and Tuno, as part of the IPO. Above Food Corp. and Bite Acquisition Corp. enter a definitive business combination agreement that values the company at a pro forma enterprise value of approximately $319 million. Upon completion of the proposed transaction, Above Food will be a publicly traded company and is expected to be listed on the NYSE under the new ticker symbol “ABVE.” Above Food is a differentiated, vertically integrated plant-based ingredients and foods company committed to regenerative agriculture and sustainable food technologies …

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Unsweetened sesame milk in store

©The Planting Hope Co.

Planting Hope Reports “Record Year of Growth” in 2022, Quadruples YOY Revenue

The Planting Hope Company (CVE:MYLK) announces its financial results for the fiscal year ended December 2022, and reports it achieved record revenues of $12.2M last year, more than 4.6 times its revenue in 2021.  Planting Hope, whose products include Hope and Sesame sesamemilk, RightRice and Mozaics Veggie Chips, says its 2022 revenues were 358% higher than in 2021, driven by its acquisition of RightRice, significant North America retail expansion, and enthusiastic response to its Barista Blend Sesamemilk in food service and coffee shops.  “In 2022, we rolled out our flagship Hope and Sesame Barista Blend Sesamemilk to the critical Café channel,” said Julia Stamberger, CEO and co-founder of Planting Hope. “After five years of formulation, development and testing, sesame milk is the first meaningful new …

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Beyond Burger in Store

© Beyond Meat

Beyond Meat Stock at Highest Point in 52 Weeks on Frankfurt Stock Exchange

This Tuesday morning (18th April), Beyond Meat stock jumped 1.4 percent in Frankfurt trading, hitting a high for the day at €13.37, as Germany continues at the forefront of animal meat reduction. Beyond Meat stock reached its highest point in 52 weeks (since April 28, 2022), although the stock currently trades 68.77 percent below its 52-week high. Furthermore, the current Beyond Meat share price is 26.72 percent higher than the low point reached on December 29, 2022, as explained by finanzen. Diminished losses in Q4 Beyond Meat declared its Q4 2022 results at the end of February, reporting diminished losses and revenue that surpassed expectations. The news sent Beyond shares soaring by 15 percent in after-market trading.  CEO Ethan Brown, said upon sharing the Q4 results: “We …

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oatly organic

©Oatly

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

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. 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 considerably lower than they were following the company’s IPO in 2021. “Firmer footing” Oatly’s outlook has further …

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Beyond Meat CEO

Ethan Brown © Beyond Meat

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

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.  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 service. International revenue also fell by 19.9% from the same period a year earlier.  Despite the drop in sales, Beyond successfully shrunk …

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