Steakholder Foods (NASDAQ: STKH) is the only pure cultivated-meat listee currently trading on US markets. Originally from Israel, Steakholder has been trading on NASDAQ for just over 2 years at this point and has witnessed a decline in share value as sky-high valuations have since come back to earth. As STKH re-approaches a bottom it set in December '22 in the lead-up to a dilutive public offering, investors in this food-tech darling are all asking: what's next?
I'm long on STKH based on my belief that the cellular agriculture space will enjoy monster growth over coming years as scalable tech and government regulations hit the market. From my point of view, it looks like STKH has been tracking a descending triangle chart pattern since right around the date its $6.5m public offering closed on January 10th, where shares were valued at $1.
In the two months since, STKH price action has seen waning investor demand for shares, evidenced by the 24 hour volume indicator at the bottom. Meanwhile, share price has been tracking a descending resistance as a horizontal line of support has appeared around $0.70. This dynamic strongly suggests that STKH is headed towards a breakout--the question is whether in a bullish or bearish direction?
On the basis of its successful public offering that should provide a cash cushion and strong news flow YTD, I get the impression that STKH management has kept their eye on the ball despite the background volatility roiling global equity markets. In Q1 they've announced multiple breakthroughs in their R&D pipeline, as well as a strategic restructuring plan for its subsidiary Peace of Meat. The company continues to gobble up IP that is crucial for the nascent cultivated meat industry as a whole, most recently evidenced by its patent approval in Canada. This is all occurring against the backdrop of STKH's ongoing collaboration with Singapore's Umami Meats, which was announced in Q4 alongside its reception of a $1m grant for R&D from the Singapore-Israel Industrial Innovation Authority.
While STKH may still be recovering from the fallout of its Q4/January public offering, I remain bullish on this stock in the LT as well as potentially sooner, depending on whether price action breaks out upwards or downwards. Regardless, this is an ambitious company striving to capture the future cultivated meat industry that has a promising road ahead for shareholders and *steakholders* alike.
I'm long on STKH based on my belief that the cellular agriculture space will enjoy monster growth over coming years as scalable tech and government regulations hit the market. From my point of view, it looks like STKH has been tracking a descending triangle chart pattern since right around the date its $6.5m public offering closed on January 10th, where shares were valued at $1.
In the two months since, STKH price action has seen waning investor demand for shares, evidenced by the 24 hour volume indicator at the bottom. Meanwhile, share price has been tracking a descending resistance as a horizontal line of support has appeared around $0.70. This dynamic strongly suggests that STKH is headed towards a breakout--the question is whether in a bullish or bearish direction?
On the basis of its successful public offering that should provide a cash cushion and strong news flow YTD, I get the impression that STKH management has kept their eye on the ball despite the background volatility roiling global equity markets. In Q1 they've announced multiple breakthroughs in their R&D pipeline, as well as a strategic restructuring plan for its subsidiary Peace of Meat. The company continues to gobble up IP that is crucial for the nascent cultivated meat industry as a whole, most recently evidenced by its patent approval in Canada. This is all occurring against the backdrop of STKH's ongoing collaboration with Singapore's Umami Meats, which was announced in Q4 alongside its reception of a $1m grant for R&D from the Singapore-Israel Industrial Innovation Authority.
While STKH may still be recovering from the fallout of its Q4/January public offering, I remain bullish on this stock in the LT as well as potentially sooner, depending on whether price action breaks out upwards or downwards. Regardless, this is an ambitious company striving to capture the future cultivated meat industry that has a promising road ahead for shareholders and *steakholders* alike.