Beyond Meat Stock Drops on Earnings Miss and Outlook That Leaves Investors Hungry
Beyond Meat's (NASDAQ: BYND) second-quarter 2021 earnings report, released after the market close on Thursday, did not satiate investors as a whole. Shares closed down 4.6% in Thursday's after-hours trading session.
The leader in plant-based meat substitutes turned in solid Q2 revenue growth, which beat the Wall Street consensus estimate. But second-quarter earnings and third-quarter revenue guidance fell short of analysts' expectations. The weaker-than-expected outlook was probably the main catalyst behind the stock's sell-off.
In 2021, shares of Beyond Meat are down 2.5% through Thursday's regular trading session. The S&P 500 has returned 18.9% over this period. The stock remains a winner, however, since its initial public offering in May 2019. It's up 387% since then, as of Thursday's regular trading session.
Source Fool.com
