OTLY - Can Vegan Stocks Make a Comeback?
High-growth tech stocks have gone bust over the last few months, bringing high-flying sectors like cloud computing to their knees.
Cathie Wood's ARK Innovation ETF , a good benchmark for high-growth stocks, has fallen 50% since November, but it's not only tech stocks that have gotten crushed in the market sell-off. Other high-growth sectors, like vegan stocks , are also feeling the pain.
Beyond Meat (NASDAQ: BYND) , the best known of the bunch, has seen its stock price fall by more than two-thirds since last July. Oat milk producer Oatly (NASDAQ: OTLY) has fallen by 72% since its IPO nearly a year ago. Meanwhile, other popular vegan names, like Laird Superfood and Tattooed Chef, as well as vertical farming stocks, like AppHarvest and Local Bounti, have also pulled back.
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Can Vegan Stocks Make a Comeback?