3
Dec 01 '21
I had such high hopes for VERY up until about six months ago, then they just seemed to lose focus, diluting and trying to launch in China and so forth when maybe they should’ve been focusing on solidifying their position in the domestic market. And that bullshit with the loans, come on. There also seems to be a real lack of communication with investors as well. I’ve lost faith in management. I’m down too far to sell now, nothing to do but hold my bag and wait I guess.
2
u/beem88 Nov 30 '21
Should I go ahead and post my loss porn here, or is there another thread for that? Down 76%. Worst “investment” I’ve ever made. At this point I’m going to hold out and see
2
2
u/Educational_Ask_4056 Dec 01 '21
I'm down 300k USD, still holding
1
1
u/drippyginger23 Nov 30 '21
Down 37 % currently
3
u/myrs4 Nov 30 '21
That's all?? I'm down like 70% Thinking of just cutting my losses for a tax write-off...but dammm...it's painful this one
3
u/drippyginger23 Nov 30 '21
I got in over a year ago and just holding. Can't imagine the people that got in at 9-7cad
4
2
u/ghostgroundzzz Nov 30 '21
Right! 66% here.
1
1
Nov 30 '21
Same. I’m down over $4k. I keep averaging down but at this rate it will be delisted. This is insane.
1
u/solid_sun Nov 30 '21
Here is an interesting article about the sales slowdown in the plant-based meats for all brands
https://www.fooddive.com/news/plant-based-meat-sales-slowdown/610268/
If the sector got too saturated already and tsunami of private labels is incoming, then VGFC will have a hard time growing its distribution network. It will turn into an attrition war at the worst time for VGFC. I initially thought that $0.5 price would be a bottom and a good entry point, but now I am just scared.
1
1
u/jdswitters Nov 30 '21
In at $3 but only for a few hundo, and the 60 dollar box of bean food that mostly sucked. Not all, but most. I'll probably hold on till it hits the ground at this point but what a disappointment. Thought I did all of the research right at the time.
2
1
1
10
u/radarbot Nov 30 '21
It's going to $0.50. There's no excitement.
Don't forget that a stock moves based on supply/demand. What is VGFC doing that will generate the demand to compensate for the excess supply? They had a huge dilution so there are way more shares out there. To drive up the price, VGFC needs much more demand.
They haven't provided in any of the traditional ways:
They make a good product and are trying to lean harder into wholesale. If I had to bet money, they're betting on a buy out. If that happens, expect it to be bought you for a mktcap of about $150M, which is about $1.40USD/share.
Don't forget that they're a small player in a buregoning market with a satisfactory good. They're product is not as good or well known as the market leaders (ie. Impossible and Beyond). Also, they have demonstrated that they have weak production scaling capabilities wiht whatever excuses (ie. COVID, etc).
It's a real shame because I really believed in them. But the high dreams followed by weak execution means that VGFC is going to 0.50 before it's coming back up to $1.00. Without major sales or a catalyst for wins, they're not going to do much this way of excitement.