{"id":365669,"date":"2021-11-11T21:37:13","date_gmt":"2021-11-11T18:37:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/beyond-meat-shares-fall-19-amid-slowing-veggie-burgers-demand\/"},"modified":"2021-11-11T21:37:13","modified_gmt":"2021-11-11T18:37:13","slug":"beyond-meat-shares-fall-19-amid-slowing-veggie-burgers-demand","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/beyond-meat-shares-fall-19-amid-slowing-veggie-burgers-demand\/","title":{"rendered":"#Beyond Meat shares fall 19% amid slowing veggie burgers demand"},"content":{"rendered":"<p>&#8220;<strong>#Beyond Meat shares fall 19% amid slowing veggie burgers demand<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Shares of\u00a0Beyond\u00a0Meat\u00a0slumped as much as 19 percent Friday after the faux\u00a0meat\u00a0maker signaled slowing demand at restaurants and grocers with a weak sales forecast, raising questions on whether its business is nearing saturation.<\/p>\n<p>Sales of its plant-based\u00a0meat\u00a0fell at several fast-food chains in the third quarter, when the country was in the grip of the Delta COVID-19 variant and restaurants were cutting hours and trimming menus to battle a labor shortage.<\/p>\n<p>At least seven brokerages cut their price targets on the stock, with several analysts expecting the company to continue facing a slowdown.\u00a0<\/p>\n<p>The stock dropped 19 percent Friday morning to $76.77. It rebounded to $81.45 by early afternoon, but was still down some 14 percent from Thursday\u2019s close.<\/p>\n<p>Beyond\u00a0Meat\u00a0on Wednesday forecast current-quarter revenue of $85 million to $110 million, well below estimates of $131.6 million.<\/p>\n<p>\u201cWe view the results as further evidence that\u00a0Beyond\u2019s business is reaching market saturation faster than expected and that the company has deeper problems that won\u2019t be easy to fix,\u201d Credit Suisse analyst Robert Moskow said.<\/p>\n<p>\u201cConsumer interest in\u00a0Beyond\u00a0is simply reaching a peak.\u201d<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent3.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Various faux meat products from Impossible Foods, Beyond Meat and Lightlife are seen displayed on refrigerated shelves at a grocery store\" class=\"wp-image-20112317\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent3.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent3.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent3.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Competition from other players in the faux meat market like Impossible Foods has contributed to a slowdown in growth for Beyond Meat.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Three years back\u00a0Beyond\u00a0Meat\u2019s sales growth and stock were on a tear, as popular fast-food chains, including Tim Hortons and Yum Brands\u2019 KFC, and several retailers tied up with the company to sell its products.<\/p>\n<p>That blistering pace of growth, however, has hit a speed bump, with the pandemic and the entry of newer players such as Impossible Foods into the market. Its stock is also down 24 percent for the year.<\/p>\n<p>\u201cWith increased competition over the past two years, we\u2019re seeing, as expected, some impact on our market share,\u201d CEO Ethan Brown said on an earnings call.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent2.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Ethan Brown speaking at a podium labeled Nasdaq with Beyond Meat signage in the background above \" class=\"wp-image-20112388\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent2.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent2.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent2.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Beyond Meat CEO Ethan Brown said the COVID-19 pandemic has customers reluctant to try new foods like his company\u2019s faux meat offerings.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>He also said customers seemed less likely to try out newer products during the pandemic.<\/p>\n<p>\u201cGiven the drop in revenues in Q3, a still-pressured Q4, revenue growth uncertainty in the near-term and into 2022 increases,\u201d Jefferies analyst Rob Dickerson said.<\/p>\n<p>\u201cThis was the quarter that likely broke the camel\u2019s back.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/11\/11\/beyond-meat-shares-fall-19-amid-slowing-veggie-burgers-demand\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Beyond Meat shares fall 19% amid slowing veggie burgers demand&#8221; Shares of\u00a0Beyond\u00a0Meat\u00a0slumped as much as 19 percent Friday after the faux\u00a0meat\u00a0maker signaled slowing demand at restaurants and grocers with a weak sales forecast, raising questions on whether its business is nearing saturation. Sales of its plant-based\u00a0meat\u00a0fell at several fast-food chains in the third quarter, when&#8230;<\/p>\n","protected":false},"author":1,"featured_media":365670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/beyond-meat-shares-drop-19-percent.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[118783,71904,70359,76644],"class_list":["post-365669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-11-21","tag-beyond-meat","tag-stocks","tag-vegan"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/365669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=365669"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/365669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/365670"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=365669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=365669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=365669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}