Beyond Meat Stock Plummets 12% on Revenue Miss, 2023 Guidance Cut
Beyond Meat (NASDAQ: BYND) stock plunged 11.9% in Monday's after-hours trading following the plant-based meat substitute maker's release of its second-quarter 2023 results.
Investors' distaste for the report is attributable to the quarter's revenue missing Wall Street's consensus estimate and management lowering its full-year 2023 guidance for revenue and gross profit margin. Moreover, it no longer expects to be cash-flow positive in the second half of the year.
Data source: Beyond Meat.
Source Fool.com
