Beyond Meat is having a week to forget. Its shares plummet more than 21% in the last two sessions after racking up several negative news.
Their stock debacle began yesterday after McDonald's announced McPlant, its new burger made from plants. "Made exclusively for McDonald's by McDonald's". From the vegan food company they have explained that they are going to collaborate on this new product. However, it has not transpired how this collaboration will be.
The doubts implanted among investors have finished shooting after Beyond Meat have presented some accounts that have not liked the market at all.
It has reported revenue of $ 94.4 billion, a figure well below what the consensus of analysts that follows it on the stock market expected, which estimated revenue of $ 132.8 billion. Further, there has been a slowdown in revenue compared to the second quarter.
From the company they allege that this reduction in growth is due to the "panic buying" of the previous months by which consumers sought to start the pandemic with "the freezer loaded"