3 Vegan Stocks to Buy Now: Q2 Edition

Core Insights - The rise of veganism is driving demand for plant-based food products, leading to growth opportunities for companies in this sector [1] Group 1: Beyond Meat (BYND) - Beyond Meat is the largest producer of meat-substitute products, with availability in 191,000 retail and food service outlets across over 80 countries [2] - The company experienced a revenue boom before COVID-19 but has struggled to regain its previous heights, with stock dipping below profit margins [2] - Significant investments in research and development have led to the launch of the fourth generation of Beyond Burger, which is expected to drive future revenue [3] Group 2: Local Bounti (LOCL) - Local Bounti is an agricultural tech company focused on sustainable farming, utilizing a patented "stack and flow" system that uses 90% less water and land compared to conventional methods [4] - The company reported a 22% revenue increase and a 50% rise in production volume from its Georgia facility in Q1 2023 [4][5] - Local Bounti secured $228 million in financing for new projects and plans to expand its shipping network in Q2, positioning it for future growth [5] Group 3: Mission Produce (AVO) - Mission Produce is a leading supplier of avocados, with over 14,000 acres globally, benefiting from the popularity of avocados in vegan diets [6] - The company has rebounded from COVID-19 impacts, reporting a 21$6.7 million in Q1 2023 [7] - Rising avocado prices are expected to positively impact Mission Produce's performance in the upcoming quarters [7]