- The Very Good Food Company (CSE:VERY) has had a successful first day trading on the Canadian Securities Exchange
- Over 2 million of the company’s shares were traded on the initial debut, causing the share price to significantly increase
- The Very Good Food Company is currently working on expanding its distribution and increasing sales
- The company will increase capacity at its Victoria facility, as it starts construction on its Vancouver facility
- The Very Good Food Company (VERY) is up 26.76 per cent and is currently trading at 90 cents per share
The Very Good Food Company (CSE:VERY) has had a successful first day trading on the Canadian Securities Exchange.
Over two million of the company’s shares were traded on the initial debut. This caused the company’s share price to increase significantly.
The Very Good Food Company’s CEO, Mitchell Scott, was pleased to see investors welcoming the company to the public markets.
“After months of preparation for our public listing, we can all breathe a sigh of relief as the results of our first day truly exceeded our expectations.
“We are humbled to see customers become shareholders, as they look to align themselves with our vision.
“Yet, our work is far from done, and we are focused on seizing on our momentum to grow the Very Good brand into a global leader in the plant-based food technology industry,” he said.
More people are making serious changes to their diets and food-shopping habits, as a result of lifestyles changes. These include transitions to vegetarianism, veganism, and opposition to the current meat industry.
Indeed, many more consumers are actively looking for plant-based meat alternatives, which they feel may be a more ethical choice.
The plant-based meat market is currently worth approximately C$10 billion, and is continuing to increase in value. Estimates suggest this will grow at a compound annual rate of 14.8 per cent, reaching over $30 billion by 2026.
Looking to the future, The Very Good Food Company is working to expand distribution and increase sales.
The company intends to continue optimising its production facility in Victoria, by increasing throughput and overall capacity. This will take place as construction on the company’s facility in Vancouver gets started.
The Very Good Food Company (VERY) is up 26.76 per cent and is trading at 90 cents per share at 12:18pm EDT.
