As recently as late December, Monsanto was named “company of the year” by Forbes magazine. Last week, the company earned a different accolade from Jim Cramer, the television stock market commentator. “This may be the worst stock of 2010,” he proclaimed.
Bags of Asgrow Roundup Ready soybean seeds sit inside a Monsanto lab in St. Louis. Monsanto, the world’s biggest seed company, plans to complete most of its $800 million stock buyback plan more than a year ahead of schedule after the shares dropped to the lowest since 2007.
Monsanto, the giant of agricultural biotechnology, has been buffeted by setbacks this year that have prompted analysts to question whether its winning streak of creating ever more expensive genetically engineered crops is coming to an end.