Here's Why Beyond Meat Stock Slipped on Wednesday
Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) slipped on Wednesday, after the company reported results for the second quarter of 2020. Revenue exceeded expectations, while earnings fell short. As of 10:30 a.m. EDT, the stock was down 6%.
It's possible investors are worried about Beyond Meat's earnings miss. But it's more likely they're concerned with how the company's food-service sales were decimated by the COVID-19 pandemic.
Beyond Meat's bottom line took a hit from repackaging products for retail sales. Image source: Beyond Meat.
Source Fool.com
