The Blubber

Per Bloomberg

Impossible Foods Inc. reportedly rewards qualifying employees with options in the company. While those shares were once worth a lot, they have plunged by 89% since their October 2021 set price.

This decline resulted in shares dropping from $14.64 down to just $1.67 each, according to a document seen by Bloomberg. This comes as the demand for plant-based meat hasn't seen much spark, with some companies already removing plant-based options from their menu.

This comes as Beyond Meat Inc., a company that also focuses on plant-based meat and is publicly traded, has lost 40% of its value in the past year. It also saw an over 90% drop from its $160.28 price in June 2021.

Impossible was able to secure partnerships with many known brands including Buerger King and Starbucks Corp.

In February, McDonalds reportedly dropped its McNuggest that were made of zero meat. These nuggets were developed with peas, wheat, and tempura batter.

In November, the FDA approved lab-grown meat production for human consumption. This was reportedly for Upside Foods, which makes meat from cultured chicken cells.

The technology allowed them to grow chicken meat without having to kill the chicken, but instead just using its cells and growing it in a lab.

See flow at unusualwhales.com/flow.

Other News:

• McDonald's drops McNuggets made with zero meat: just peas, wheat, and tempura batter
• The FDA has approved a lab-grown meat product for human consumption

Resources:

Bloomberg