Why Beyond Meat Stock Fell 12% in September
Shares of Beyond Meat (NASDAQ: BYND), the leading maker of plant-based meat substitutes, fell 12% in September, according to data from S&P Global Market Intelligence. This decline was likely due to continued downward pressure from second-quarter earnings and third-quarter revenue guidance falling short of Wall Street's expectations, as well as broader market dynamics, as last month was a tough month for growth stocks.
For context, the S&P 500 and Nasdaq indexes fell 4.8% and 5.3%, respectively, in September.
In 2020, Beyond Meat stock surged 65.3% (compared to the S&P 500's 18.4% return), thanks largely to consumers stocking up on frozen foods during the early stages of the pandemic. But 2021 (through Oct. 1) hasn't been as kind to shareholders, with the stock down 16.1%, while the broader market has returned 17.3%.
Source Fool.com
