Wednesday, 02 February 2022 12:00

Fake flake

Written by  The Hound

OPINION: They say nothing is as good as the real thing - and this seems to be the case for fake meat company Beyond Meat.

Reports show it has become one of the most 'shorted' companies on the US stock market as investors fret over weaker-than-forecast sales and scepticism grows over the plant-based 'meat' boom.

Short sellers - who make money on share price falls - have piled into the stock.

Short positions on Beyond Meat shares have increased 40% since late October, when the California-based company issued a revenue warning.

The ballooning bets against Beyond Meat come amid rising uncertainty about the growth in plant-based meat: Data from the US and UK show that sales, which soared in 2020, flattened out in 2021.

Although US retailers' sales of plant-based meat grew 1.6% in December, numbers fell between March and November, taking total revenues for the year down 0.5%.

More like this

Trop de Paris!

OPINION: Your old mate's ear has been chewed off recently by farmers voicing their displeasure with the National Party, particularly relating to how they're treating their farmer base.

NZ vs Aussie beef

OPINION: Your old mate hears that at a recent China Business Summit, PM Christopher Luxon delivered a none-too-subtle "could try harder" report card on the red meat industry regarding its exports to China - particularly when compared to Australia.

Arable advocacy?

OPINION: Spare a thought for the arable farmer, squeezed on one side by soft global prices and on the other by limits on further yield increases.

Our own 'Clarkson'

OPINION: The huge success of former Top Gear host Jeremy Clarkson's new TV show, Clarkson's Farm, and the boost it has given the image of farming in the UK, has prompted one scribe to wonder aloud who could fill a similar role here in NZ.

Gaslight much?

OPINION: Labour leader Chris 'Chippy' Hipkins is carrying on the world-class gaslighting of the nation that he and his cohorts started after their disastrous Covid response; now trying to undermine the Covid inquiry to protect his own backside.

Featured

T&G Global returns to profitability

Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.

Rural backlash over plan to cut police staffing

Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.

DairyNZ thanks farm staff

August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.

Editorial: Getting RMA settings right

OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.

National

Machinery & Products

» Latest Print Issues Online

The Hound

Trop de Paris!

OPINION: Your old mate's ear has been chewed off recently by farmers voicing their displeasure with the National Party, particularly…

NZ vs Aussie beef

OPINION: Your old mate hears that at a recent China Business Summit, PM Christopher Luxon delivered a none-too-subtle "could try…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter