Monsanto’s stock did even more poorly than analysts expected last quarter, with its stock taking another 15 percent nose-dive due to ‘a stronger dollar, and weak seed sales.’ The company is warning its investors that profits will not maintain previously suggested levels. Is it time to ditch Monsanto stock?
The company is adjusting its forecasts based on the impact of falling GM corn seed sales, and chemicals that are becoming increasingly expensive for farmers to use. The company is likely to continue to lose money considering that 96 percent of consumers want their food labeled so they know if they are eating health-damaging GM seed.
Here are some poll figures on the desire for GMOs to be labeled:
- The New York Times: 93% found to be in support of labeling GMOs
- MSNBC: 96% in support
- Reuters/NPR: 93% in support of full labeling
- Washington Post: 95% in support of full labeling
- Consumer Reports: 95% agree GM animals should be labeled
- ABC News: 93% want federal GM labeling mandate
Furthermore, the Internet has allowed a democratic disbursement of information that may suggest that GM seed like Bt toxic corn are bad for human health. Adding to that the fact that glyphosate, the main ingredient in Monsanto’s best-selling herbicide Roundup, is now being called ‘carcinogenic’ by everyone from the EPA in the state of California to the World Health Organization. Surely this will impact sales for the biotech behemoth as well.
The cost of multiple pending lawsuits are also likely to affect Monsanto’s bottom line. They were just found guilty of chemical poisoning in France, and a PCB lawsuit is pending in St Louis County. Add to these lawsuits, two more, including a false advertising lawsuit in California and one from way back in 1996, also for false advertising.
It seems that the end of Monsanto just might finally be in sight.