A quick one from Emily Chasan at Bloomberg:
There’s a gold rush for vegan investors as faux meat grabs the headlines and plant-based food is considered one of the best solutions to climate change. Beyond Meat’s meteoric IPO gave public market investors one of their first real chances to hold shares of a vegan company. While shares tumbled last week after an unexpected secondary offering, the stock is still up about 600% this year. It seems like investor fans of a plant-based diet will have even more choices soon, as long as vegans also like tech stocks.
For years, I was interested in any stocks that reflected vegan interests. It was a godsend when Beyond Meat IPO-ed earlier this year. (Disclosure: I bought shares.) I was able to my money where my mouth was—literally and figuratively. I hope we see more vegan companies make this move.
A vegan ETF based on Beyond Advisors’ Vegan Climate index, VEGAN, is expected to launch next month with a plan to avoid companies that profit from animal cruelty. But, it looks mostly like a large cap tech fund with big allocations to Microsoft and Apple and no shares of Beyond Meat, Bloomberg Intelligence analysts said.
This speaks mostly to the lack of stocks available that represent vegan interests. Though it’s baffling that Beyond Advisors wouldn’t have a stake in Beyond Meat.