Why Beyond Meat Stock Sank 24.5% in December
Shares of Beyond Meat (NASDAQ: BYND) fell 24.5% in December, according to data from S&P Global Market Intelligence. The plant-based meat company continues to slide as the world trends away from its products. The company posted solid revenue growth last quarter but continues to lose money. After these losses, Beyond Meat stock is now down 98% from its all-time highs.
Here's why the stock was falling yet again in December.
Beyond Meat's goal was to build a fake meat product that could persuade meat eaters to switch to plant-based alternatives. For a few years, it looked as if the company was making progress on this goal when revenue reached $450 million in 2022. But then things started to go downhill. Beyond Meat's revenue started to shrink as the hype around plant-based alternatives faded, along with a backlash against its large ingredients list. That led to a huge free cash flow burn and the stock price collapse.
Source Fool.com
