Wellvest Capital – H&W Public Index Report April 2024
April 2024


“April is the cruelest month” is a good description of what just transpired over the last four weeks with the S&P500 down 4.16% for the month reducing the YTD gain to 5.57%. While T.S. Eliot was not concerned with the stock market, April is historically a weak month. Many prognosticators attribute this to the fact that taxes are due, resulting in decreased savings and negative sentiment. The Wellvest H&W Index didn’t buck the trend, giving up 7.31% for the month, bringing the YTD loss to 7.84%.

Besides economic data, Earnings are exerting tremendous influence of the markets, as readily witnessed with mega-cap tech stocks. Closer to home, Vital Farms (VITL) is a prime example, reporting earnings in March that beat consensus. Forward guidance was also positive, resulting in a steady increase in stock pric generating 70.4% YTD.


The average loss for the losers in the WVC H&W Index for the month of April was 10.85%, with the winners up a modest 6.81%. Underlying these averages was significant volatility. A number of companies were down over 20%, including Medifast (MED) down 28.16%, Peloton (PTON) down 27.42%, The Honest Company (HNST) off 25.56, Zevia (ZVIA) decreasing 26.42%, Xponential Fitness (XPOF) down 22.91%, and United Natural Foods (UNFI) giving up 22.28% for the month. The increase in the winners’ group was much more muted. Lifeway Foods (LWAY) was the runaway gainer with a 18.76% pop, followed by Vital Farms (VITL) up 15.01%, Shimano (TKS:7309) increasing 10.07%, and GrowGeneration (GRWG) pitching in a 4.55% gain. The negative sentiment is clearly dominating the streets view of health and wellness companies. At this rate, there will be some exceptional buying opportunities once a bottom is put in.


  • Top Five Winners
  • Larid Superfoods (ASE: LSF)
  • 113.2%
  • Vital Farms (VITL)
  • 70.4
  • Lifeway Foods (LWAY)
  • 52.5
  • Sprouts Famers Market (SFM)
  • 37.3
  • Celsius Holdings (CELH)
  • 30.7


  • Top Five Losers
  • Bowflex (BFX)
  • -98.7%
  • WW International (WW)
  • -79.3
  • Medifast (MED)
  • -59.0
  • Zevia (ZVIA)
  • -57.2
  • Peloton (PTON)
  • -48.9
Data sources: Pitchbook
Copyright: Wellvest Capital 2024