Beyond Meat hit a high of $194.95 but now trades at about $22/share.
- Product costs +70% more per pound than genuine meat
- Consumers turned off by high prices
- Sales have been below expectations
- Company has laid off workers
- Company has signed distribution agreements with various restaurants but unknown if customers are buying and then continuing with future purchases.
- Sustainability: We tried Beyond Meat. It was interesting. But not sustainable as we did not return and buy more.
- High prices during high inflation and recession, revenue down year over year, a company with huge debt, in a declining market, and possibly in a passing fad market. They’ve got cash to keep running for a while, with hopes for a market turnaround or they are bought out.
- Seeking Alpha thinks Beyond Meat is beyond saving, noting the entire synthetic meat category has been receding for a time now.