In the meantime, Beyond Meat is feeling the effects of the competition – this is increasing price pressure.
(Photo: AP)
Frankfurt Beyond Meat’s stock has just seen its deepest drop in a year. The share of the US group fell by 13 percent on Thursday to around $ 82. And the case of the meat substitute manufacturer could go further, analysts believe. Out of 19 experts, only three still recommend buying. Your course targets are sometimes more than 30 percent below the current rate.
The trigger for the price slide on Thursday were the weak quarterly figures and a cautious outlook for the next quarter: Beyond Meat posted a net loss of 54.8 million US dollars for the third quarter. Although sales rose 13 percent to $ 106.4 million, the company is actually used to significantly stronger growth. CEO Ethan Brown also admitted “continuing uncertainties for the rest of this year” – also because of possible further effects of Corona, in particular the Delta variant.
Read on now
Get access to this and every other article in the
Web and in our app for 4 weeks free of charge.
Further
Read on now
Get access to this and every other article in the
Web and in our app for 4 weeks free of charge.
Further