Things Are Only Getting Worse for Beyond Meat Stock
The world -- well, maybe just investors -- became enamored with the plant-based meat industry in 2019. Venture capitalists and start-ups galore were hyping these products as the future of food and a beacon of hope in the fight against climate change. Now, almost five years later, that hype has not materialized into much of anything.
One of the few publicly traded plant-based meat companies is Beyond Meat (NASDAQ: BYND), which makes plant-based burgers, steaks, chicken, and much more. After going public in early 2019 to take advantage of industry momentum, shares of the stock soared over 1,000% in just a few short months.
But today, those same shares have fallen back below the company's initial public offering (IPO) price. With its declining sales and unimpressive profit margin, it is no wonder investors have soured on Beyond Meat and the entire plant-based meat industry.
Source Fool.com
