TSN - Tyson Foods, Inc.

NYSE - NYSE Delayed Price. Currency in USD
87.39
-0.78 (-0.88%)
At close: 4:01PM EDT
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Previous Close88.17
Open88.48
Bid87.58 x 800
Ask87.39 x 800
Day's Range86.73 - 88.86
52 Week Range49.77 - 94.07
Volume1,755,608
Avg. Volume2,761,456
Market Cap31.87B
Beta (3Y Monthly)0.43
PE Ratio (TTM)14.63
EPS (TTM)5.97
Earnings DateNov 11, 2019 - Nov 15, 2019
Forward Dividend & Yield1.50 (1.70%)
Ex-Dividend Date2019-11-26
1y Target Est91.46
Trade prices are not sourced from all markets
  • Kroger launches new plant-based items as Tyson backs alternative-shrimp company
    Yahoo Finance Video

    Kroger launches new plant-based items as Tyson backs alternative-shrimp company

    The plant-based protein space is growing. Tyson announced it is investing in "New Wave Foods", a startup that makes alternative-shrimp.Yahoo Finance's Heidi Chung joins Akiko Fujita on 'The Ticker' to discuss.

  • Here’s how Beyond Meat can lose the lead in the plant-based meat category to Tyson
    MarketWatch

    Here’s how Beyond Meat can lose the lead in the plant-based meat category to Tyson

    CFRA analyzes the plant-based meat space and the competition that’s heating up between a number of players.

  • Tyson Foods (TSN) Stock Moves -0.11%: What You Should Know
    Zacks

    Tyson Foods (TSN) Stock Moves -0.11%: What You Should Know

    Tyson Foods (TSN) closed at $88.17 in the latest trading session, marking a -0.11% move from the prior day.

  • MarketWatch

    Tyson Foods launches refrigerated snack brand Pact

    Tyson Foods Inc. said Wednesday that it is launching a line of refrigerated protein snacks, Pact, that will be made with fruit and nuts along with ingredients like kombucha, macha and turmeric. Pact Snack Bites will also be a source of fiber, prebiotics and probiotics. Tyson said the line falls into the "functional foods" category, which offer health-and-wellness benefits. Pact Snack Bites will come in four varieties including "Gut Instinct," cranberry and kombucha probiotic snacks, and "Vibe On," made with mint matcha and blueberry. Pact will launch first on Indiegogo, the crowdfunding platform, in order to gather feedback. Tyson Foods stock has soared almost 65% in 2019 while the S&P 500 index is up 19.5% for the period.

  • GlobeNewswire

    Tyson Foods Launches Pact® Brand Refrigerated Snack Bites with Functional Benefits

    Tyson Foods, Inc. (TSN) today launched a new line of functional refrigerated protein snacks under its new brand, Pact®, created to help people harness the natural benefits of food. Developed by the company’s team of nutrition and culinary experts, Pact® Snack Bites are expected to tap into a growing functional food market projected to reach $100 billion in the U.S. by 20251. Functional foods have potential to offer positive effects on health and wellness and can help people fill gaps in nutrition. Pact Snack Bites are literally packed with nutrition.

  • Tyson Foods Gains From Protein Packed Brands, Costs High
    Zacks

    Tyson Foods Gains From Protein Packed Brands, Costs High

    Tyson Foods (TSN) is gaining from consistent growth in the Chicken and Beef units. However, rising input costs stemming from market volatilities are concerns.

  • Reuters

    CORRECTED-U.S. worker, food-safety advocates sound alarm over new hog slaughter rules

    U.S. food safety and the health of plant workers will be at risk from new federal rules that allow meat companies to slaughter hogs as fast as they want and shift the role of government inspectors, food and environmental advocates said on Tuesday. The USDA earlier on Tuesday published a final version of rules that will eliminate limits on how fast companies such as Tyson Foods and WH Group's Smithfield Foods can slaughter pigs - a change long sought by meatpackers.

  • Tyson Foods plant in Southwest Georgia expanding, creating 100 jobs
    American City Business Journals

    Tyson Foods plant in Southwest Georgia expanding, creating 100 jobs

    Tyson Foods is spending $34.2 million to expand the Arkansas-based company's plant in Camilla, Ga., Gov. Brian Kemp announced Tuesday.

  • Company News For Sep 16, 2019
    Zacks

    Company News For Sep 16, 2019

    Companies in the news are: GECC, TSN, LL, PGR

  • GlobeNewswire

    SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Tyson Foods, Inc. - TSN

    Pomerantz LLP is investigating claims on behalf of investors of Tyson Foods, Inc. (“Tyson” or the “Company”) (NYSE: TSN). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.

  • ETFs & Stocks in Focus as China Plans to Import Pork
    Zacks

    ETFs & Stocks in Focus as China Plans to Import Pork

    The news of China importing pork has resulted in an astounding rally in the U.S. lean hog futures market.

  • InvestorPlace

    7 Stocks to Buy to Ride the Vegan Wave

    [Editor's note: This article was originally published in August 2018. It has been revised to reflect current market trends.] The IPO success of Beyond Meat (NASDAQ:BYND) has me revisiting the world of plant-based foods and exploring how investors can take advantage of the move to meatless alternatives. Today, the global plant-based meat market is estimated to be $12.1 billion. It's expected to grow to $27.9 billion by 2025, a compound annual growth rate of 15%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile many companies have focused on vegetarian and vegan markets in the past, it's clear that most food companies are now going after the "flexitarian" consumer: the person who still eats meat, but is opting for meatless alternatives regularly. Today, 32% of Americans identify themselves as flexitarian.As a result of this change in consumer tastes, companies have invested a total of $16 billion in plant-based meat, egg and dairy products. The "vegan wave" is now the flexitarian wave. * 7 Discount Retail Stocks to Buy for a Recession Regardless of what you want to call it, these seven companies are taking advantage of the move to meatless alternatives. And some of these stocks to buy might even make you a lot of money in the long run. Beyond Meat (BYND)Source: calimedia / Shutterstock.com By now, the Beyond Meat story is known by most investors, so I'll keep the IPO details to a minimum.The California plant-based food company went public on May 1 at $25 a share, selling 9.6 million of its stock for net proceeds of $219 million, not including the underwriters' over-allotment. The company's shareholders didn't sell any of their shares in the IPO. However, on Aug. 2, it did file a final prospectus that will see Beyond Meat sell 250,000 shares to the public along with some of its pre-IPO shareholders, selling 3 million shares of BYND stock. The company wisely waived the 180-day lock-up period for its main investors so that they can cash out a portion of their shares while they're up almost six-fold. A fundamental capital allocation principle is to sell your stock when it is expensive and repurchase it when it's cheap. While Beyond Meat's Q2 2019 net loss was $9.4 million, it did generate an operating profit of $2.2 million in the second quarter, a considerable improvement from the $7.3 million loss a year ago. Oh, and it's hard to forget revenues increased by 267% in the quarter to $67.3 million. As someone who buys their burgers quite frequently, it's not hard to see why. Tyson Foods (TSN)Source: Daniel J. Macy / Shutterstock.com A lot has happened since I last wrote about Tyson Foods (NYSE:TSN) and its foray into meatless alternatives. Some of it good, some of it bad. In 2016, Tyson made a 5% investment in Beyond Meat, the company behind the burger that has taken Canada and the U.S. by storm. It upped its stake at the end of 2017 as part of a $55 million investment round by the California-based company."We got attacked when we signed a deal with Tyson. People said I personally have blood on my hands," said Beyond Meat CEO Ethan Brown at the time. "Tyson took a big risk, too. I mean Hayes didn't get any love letters when he backed us. But I'd much rather try to get things done than throw stones, and the people at Tyson know how to move the needle."Unfortunately for Tyson shareholders, the company didn't make it to the ball, selling its shares in April for an undisclosed amount, after Tyson CEO Noel White decided the company would create its own plant-based protein line. Tyson's brand is called Raised & Rooted. It will compete with Beyond Meat. However, while its chicken nugget product will be meatless, its burger will contain Angus beef as well as pea protein isolate. According to TSN's chief marketing officer, "While most Americans still choose meat as their primary source of protein, interest in plant and blended proteins is growing significantly". * 10 Battered Tech Stocks to Buy Now The fact is, 70% of the people who eat Beyond Meat burgers are meat-eaters. Sustainable foods are the wave of the future. Kellogg (K)Source: DenisMArt / Shutterstock.com When most people think of Kellogg (NYSE:K), the first thing that likely comes to mind is cereal: Special K, Frosted Flakes, Mini-Wheats, etc. However, it has owned a vegetarian food brand called MorningStar Farms since acquiring the business in 1999. The company sells over 90 million pounds of faux meat (burgers, chicken, sausage, etc.) every year, with a third from fake burgers and the remaining two-thirds from its other products. Estimates suggest that MorningStar generates $450 million in annual revenue, about double the amount Beyond Meat sells in a year. Beyond Meat is valued at 64 times sales. If MorningStar Farms were given the same valuation, it would be worth $29 billion to Kellogg, about 50% more than the company's current market cap. It is clear that Kellogg is aware of MorningStar Farm's potential"When we [Kellogg] have spoken to people, we've seen that the desire to eat plant-based alternatives has increased in the last four years by 45%, and 53% of the Canadians we speak to are already eating meat alternatives," Kellogg Canada's VP of Marketing Christine Jakovcic recently stated. The big question is whether its management is smart enough to take advantage of the popularity of meatless products. Amazon (AMZN)Source: Shutterstock It has been a whirlwind 23 months since Amazon (NASDAQ:AMZN) stunned the world buying Whole Foods for $13.7 billion.Prognosticators of all types came out of the woodwork predicting the many changes Jeff Bezos would implement at the healthy foods grocery-store chain.One of the more sensible changes is expanding Whole Foods' delivery network. Whole Foods now provides two-hour delivery in 90 cities across the U.S.Not surprisingly, the predicted drop in prices at Whole Foods, has yet to materialize."While deeper promotional pricing on key items, incremental savings … and increased convenience for Prime Members in the first year under Amazon ownership have caught our eye as consumers, the reality is that Whole Foods pricing on a broad basket has remained largely unchanged," stated a report from Gordon Haskett Research Advisors.According to the report, $400 spent on a basket of food at Whole Foods in October 2017, now costs $398.50, producing a whopping $1.50 in savings. * 7 Stocks to Buy In a Flat Market If you're an Amazon investor, this is excellent news because the money to pay for a $15 minimum wage has to come from somewhere. Con Agra (CAG)Source: Shutterstock In my previous article about the move to plant-based foods, I discussed Hain Celestial (NASDAQ:HAIN), one of the earliest adopters of meatless and vegan alternatives. One of its companies is Yves Veggie Cuisine, founded by Canadian food entrepreneur Yves Potvin in 1985. Potvin used $5,000 of his own money, $10,000 from family and $25,000 in small-business loans to get it up-and-running. Potvin sold Yves to Hain in 2001.Potvin's next move was to create Gardein in 2003, a maker of meatless alternatives, including veggie burgers and chicken sliders, the founder's favorite Gardein product. Potvin sold Gardein in 2014 to Pinnacle Foods, now a subsidiary of ConAgra Brands (NYSE:CAG), for $154 million. ConAgra likely acquired Pinnacle Foods, in part, to take advantage of the flexitarian movement."That means the opportunity here could be in the range of $30 billion just in the U.S.," CEO Sean Connolly said recently. "And you know, there's even more opportunity internationally."If you are a CAG shareholder, Gardein is a big reason to hang on to your stock. Restaurant Brands International (QSR)Source: Shutterstock While most investors in the U.S. are familiar with Restaurant Brands International (NYSE:QSR) because of its Burger King restaurants, up here in Canada, where I live, Tim Hortons is an iconic name that RBI is trying to grow with Canadians and coffee lovers in other parts of the world, including the U.S.To compete with other fast-casual names, Tim Hortons has introduced and continues to test plant-based alternatives. In the past month, Tim Hortons has launched a Beyond Meat burger in Canada, Beyond Meat vegetarian sausage patties, and is experimenting with plant-based eggs. Early indications suggest the plant-based eggs, which are made by San Francisco food company Just, are getting rave reviews. According to a Just spokesperson, "Canada is one of the most requested markets for JUST and we're excited to be able to offer our product at select Tim Hortons locations for this market test." * 7 Deeply Discounted Energy Stocks to Buy I haven't been a fan of QSR stock -- it has a lot of debt -- but if it continues to innovate in this growing area of the restaurant and food industries, I might just have to change my tune. Impossible FoodsSource: Shutterstock In the previous slide, I discussed some of the initiatives Restaurant Brands International were doing for its Tim Hortons brand in Canada. I mentioned that the company also owns Burger King. Well, Burger King announced Aug. 1 that it is testing the Impossible Whopper, a plant-based version of its top-selling burger, for one month across all 7,200 stores in the U.S.Impossible Foods make the Impossible Whopper, the same people behind the plant-based burger that's available at all Wahlburger locations across the U.S. Burger King first tested the Impossible Whopper in 59 stores in the St. Louis area. The stores that sold this burger saw foot traffic increase by a whopping 18.5%. However, because the burger contains soy leghemoglobin, it isn't considered to be vegan.In May, Impossible Foods raised $300 million to bring its total funds raised to $750 million since its inception in 2011. Although the company is expected to go public at some point in 2020, it's not in a rush to do an IPO. Like Beyond Meat, it has a who's who list of investors, including Serena Williams, Bill Gates, Jay-Z and many others. The latest fundraise valued Impossible Foods at $2 billion. At the time of this writing, Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Internet Stocks Getting Hammered * 6 Big Growth ETFs to Buy For the Second Half of 2019 * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The post 7 Stocks to Buy to Ride the Vegan Wave appeared first on InvestorPlace.

  • GlobeNewswire

    Tyson Foods Names John R. Tyson Chief Sustainability Officer

    Tyson will lead Tyson Foods’ efforts to support a more sustainable food system. This includes driving improvement by implementing the company’s sustainability strategy and commitments as well as managing the sustainability, animal welfare, environmental and social responsibility teams.

  • Reuters

    UPDATE 1-Sanderson Farms gets U.S. DoJ subpoena in chicken price-fixing case

    Poultry processor Sanderson Farms Inc said on Monday it had received a subpoena from the U.S. Department of Justice related to the regulator's investigation into the broiler chicken antitrust case. The Justice Department in June launched a criminal probe into allegations that Tyson Foods Inc and other poultry processors including Pilgrim's Pride Corp and Sanderson Farms colluded to fix poultry prices. Pilgrim's Pride is owned mostly by Brazilian meat packer JBS SA.

  • Here's Why Tyson Foods Gained 17% in August
    Motley Fool

    Here's Why Tyson Foods Gained 17% in August

    The food company reported solid quarterly earnings last month, but shares have given up half their gains since the start of September.

  • Benzinga

    Barron's Picks And Pans: Activision, AT&T, Boeing, Ford, Nike, Square And More

    This weekend's Barron's offers three cheap stock picks for impatient investors. Other featured articles discuss how to play the alternative meat, athleisure and mobile gaming themes. Also, the prospects ...

  • Barrons.com

    Beyond Fish? Tyson Foods Moves Into Alternative Shrimp.

    The big meat-processing company is investing in New Wave Foods, a seafood-focused counterpart to Beyond Meat and Impossible Foods.

  • MarketWatch

    Tyson Foods invests in plant-based shellfish company New Wave Foods

    Tyson Foods Inc. said Thursday that it has invested in San Francisco-based plant-based shellfish company New Wave Foods. The food company, which brands include Jimmy Dean, Hillshire Farm and Ball Park, said it made the investment through its corporate venture subsidiary Tyson Ventures. Tyson said New Wave Foods plans to have a shrimp alternative ready for food service operators in early 2020. The announcement comes about three months after Tyson introduced new plant-based nuggets and "blended" burgers, which are made with a combination of meat and plants. Tyson's stock, which slipped 0.4% in afternoon trading, has gained 6.4% over the past three months. In comparison, Beyond Meat Inc's stock has shot up 60% over the past three months and the S&P 500 has tacked on 5.4%.

  • Tyson Foods Invests in Plant-Based ‘Shrimp’
    InvestorPlace

    Tyson Foods Invests in Plant-Based ‘Shrimp’

    Tyson Foods (NYSE:TSN) is investing in New Wave Foods as it works toward releasing plant-based shrimp.Source: Daniel J. Macy / Shutterstock.com Tyson Foods is investing in New Wave Foods through its Tyson Ventures subsidiary. The finer details of the investment aren't known, but we do know that TSN wants to get in on the plant-based hype.New Wave Foods has been focusing on the creation of plant-based shellfish. It's also looking to specifically have plant-based shrimp ready early next year. However, that doesn't mean customers will be buying it off of store shelves. Instead, the company is planning to provide this to food service operators.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo how exactly is New Wave Foods planning to create plant-based shrimp? The company has a team of researchers working to developer the product. They are using seaweed and plant protein in its creation. The company also notes that this alternative to real shrimp will include the eight essential amino acids found in meat and seafood.Tyson Foods' investment may also pay due to its attractiveness to health-conscious customers. New Wave Foods claims that its plant-based shrimp will have zero cholesterol and less calories and salt than real shrimp. It also won't contain any allergens, which is a plus for anyone allergic to shellfish. * 7 Stocks to Buy In a Flat Market "Our product is a delicious, one-for-one direct swap for the real thing, and interchangeable in a wide range of recipes," Mary McGovern, CEO of New Wave Foods, said in a statement. "It gives chefs and food service operators great menu options while addressing consumers' growing demand for sustainable choices." More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth As of this writing, William White did not hold a position in any of the aforementioned securities.The post Tyson Foods Invests in Plant-Based 'Shrimp' appeared first on InvestorPlace.

  • Tyson Ventures has invested in New Wave Foods, a startup making a plant-based shrimp substitute
    TechCrunch

    Tyson Ventures has invested in New Wave Foods, a startup making a plant-based shrimp substitute

    Tyson Foods is getting into the seafood business. Through the company's venture capital arm, Tyson is investing in New Wave Foods, a San Francisco-based startup that's making a plant-based shrimp substitute. The company, founded by marine biologist Dominique Barnes and chief technology officer Michelle Wolf, who studied biomedical engineering at Carnegie Mellon, is helmed by longtime consumer goods executive Mary McGovern.

  • Chicken Manufacturers Accused of Conspiring to Keep Immigrant Workers' Wages Down
    SAY

    Chicken Manufacturers Accused of Conspiring to Keep Immigrant Workers' Wages Down

    Many of America’s leading poultry manufacturers have been hit with a lawsuit alleging that they’ve been working together to keep immigrant’s wages low. Big Chicken The lawsuit, which has been filed in a Baltimore federal court, alleges that leaders of 90% of the American poultry industry, including Tyson Foods, Sanderson Farms and Perdue Farms, have been conspiring since 2009 to depress migrants wages to about $11 on average, below the poverty line. According to Bloomberg, the suit alleges that 18 companies would use consulting agencies as intermediaries and share detailed wage information. The suit also claims the companies would share information about benefits such as insurance, time off and retirement-plan contributions through annual surveys, and that officials at chicken-processing plants would also help obtain wage information. Passing the Buck According to the National Chicken Council, Americans will eat an estimated 94.3 pounds of chicken each in 2019, paying about $1.90 a pound. But getting the chicken to your plate is one of the toughest jobs around, as workers are exposed to live animals and sharp knives, and according to a 2015 Oxfam report, about 72% of poultry workers reported significant work-related illnesses or injuries. It’s getting to the point that chicken companies are finding it harder to find workers, and the Trump Administration’s crackdowns on migrants, often the only people willing to do the job in some areas, makes finding people even tougher. So it seems like wages would naturally go up in order to attract more workers to the positions, but that appears not to be the case. Many of the chicken companies listed in the lawsuit declined to comment, but a Purdue spokesperson insisted their wages were fair, if not above average. Fix Me Three years ago the food distributor Maplevale Farm filed a class-action lawsuit, accusing the leaders of the chicken industry of using the data company Agri Stats Inc to fix prices. This triggered a flood of lawsuits from consumers, distributors, and grocery chains until the Justice Department intervened, requesting a hold on the proceedings while it pursued its own criminal investigation. -Michael Tedder Photo by Carlo Allegri/REUTERS

  • ACCESSWIRE

    Bronstein, Gewirtz & Grossman, LLC Announces Investigation Against Tyson Foods, Inc. (TSN)

    NEW YORK, NY / ACCESSWIRE / September 5, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Tyson Foods, Inc. (Tyson” or the “Company”) (NYSE: TSN). ...

  • Benzinga

    Tyson Foods Bets On Alternative Seafood Products

    Tyson Foods announced Thursday in a press release its corporate venture subsidiary called Tyson Ventures finalized an investment in a company called New Wave Foods. The San Francisco-based company manufactures plant-based shellfish items and will have a new lineup of shrimp alternative items early next year. New Wave Foods uses sustainable sourced seaweed and plant proteins which includes all eight essential amino acids that are included in all meats and seafood.

  • Kellogg and Hormel Foods Chase Beyond Meat’s Success
    Market Realist

    Kellogg and Hormel Foods Chase Beyond Meat’s Success

    Looking to replicate Beyond Meat’s astounding growth, Kellogg (K) introduced “Incogmeato” on Wednesday, which is a plant-based meat alternative.

  • Bloomberg

    Tyson Embraces Faux Fish by Backing Maker of Plant-Based Shrimp

    (Bloomberg) -- Plant-based seafood just got a deep-pocketed backer. The question now is whether consumers are actually asking for faux fish.Meat giant Tyson Foods Inc.’s venture arm bought a minority stake in New Wave Foods, a maker of plant-based shrimp, the companies announced in a statement Thursday. Tyson declined to disclose the size or value of its investment but says Tyson Ventures’ policy is to stay below 20% ownership.Through the tie-up, both Tyson and New Wave are hoping to capitalize on the recent surge in popularity of plant-based proteins, which has made alt-meat maker Beyond Meat Inc. a Wall Street darling and catapulted soy-based Impossible Foods Inc. patties onto Burger King menus nationwide.“What we saw with crustaceans was a big white space,” Tom Mastrobuoni, chief financial officer of Tyson Ventures, said in an interview.Tyson’s investment vehicle has had success spotting up-and-comers: It was an early investor in Beyond Meat but exited before the company’s initial public offering.Faux FishThe plant-based seafood industry is nascent compared to the imitation meat and dairy categories, but both big companies and rising startups are now feeding the increasingly crowded field. Good Catch makes “tuna” with a blend of proteins from peas, soy, chickpeas, lentils and other beans, while Conagra Brands Inc.’s Gardein sells Golden Fishless Filets. Even trendy Impossible Foods has said it’s working on fishless fish.But the category is still so small that the Plant Based Foods Association doesn’t even track it within the $4.5 billion U.S. retail category. “This presents tremendous opportunity,” Michele Simon, the group’s executive director, said of the wider imitation-fish category. “Any company that can crack the code of great-tasting, affordable options is well positioned to succeed.“How consumers will respond, though, remains to be seen. The big draw for meat alternatives is the perceived health benefit, but fish is already a healthy food, filled with protein and Omega-3 fatty acids.Environmental CaseThe environmental argument for products like New Wave’s is a stronger one: Oceans are overfished and shrimp farming in Southeast Asia is a main driver of the destruction of mangroves, a 2017 report found, which protect against rising sea levels and act as carbon sinks.While plant-based products would sidestep those issues, not all shrimp is produced in a way that harms the environment, said Scott Nichols, chairman of the board of the Aquaculture Stewardship Council. Shrimp that comes with an Aquaculture Stewardship Council or Seafood Watch seal of approval is produced responsibly, he said. Monterey Bay Aquarium Seafood Watch has 67 “best” or “good” shrimp choices, as well as 44 to avoid.That means would-be shrimp-eaters with environmental concerns have alternatives available already, even before New Wave’s mock shrimp hits food service operators early next year.Still, one advantage that New Wave’s “shrimp” might have over the real stuff: price. “Our price will be stable,” New Wave’s Chief Executive Officer Mary McGovern said, noting the price will be “comparable” to standard shrimp but less volatile.The company declined to disclose information on the protein source in its shrimp until the product is closer to market. It had used soy as its primary ingredient, but has since developed a new soy-free recipe, it said. Seaweed is also an essential ingredient, according to co-founder and chief technology officer Michelle Wolf. “Without it, we wouldn’t have any sort of texture,” she said.To contact the reporter on this story: Deena Shanker in New York at dshanker@bloomberg.netTo contact the editor responsible for this story: Anne Riley Moffat at ariley17@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.