There's a change afoot in the food industry. The growing global population, coupled with an increased focus on health and sustainability, has the industry looking to alternative meats. That includes plant-based products, as well as those cultivated from animal cells. "The food industry is undergoing a major revolution," Telsey Advisory Group analyst Sarang Vora wrote in a June 26 note.
mountain Beyond Meat's performance since is May 2019 IPO "This is a company that's been a first mover of sorts in the space," said Alec Lucas, research analyst at Global X. The firm's AgTech & Food Innovation ETF holds shares of Beyond Meat and invests in both agriculture technology and food innovation, the latter of which focuses on alternative proteins.
mountain Steakholder Foods year to date Alliance Global Partners, which has a buy rating on the stock, said the rising rate environment "hasn't been kind to valuations in the space" and that is a blessing in disguise for Steakholder. "We think many of the cultured meat firms that have raised significant venture capital and may have attempted to develop their own 3D bio-printing capabilities are now unlikely to do so.