Beyond Meat Stock Drops as Weak Sales Forecast Tests Its Plant-Protein Pivot
Beyond Meat shares dropped about 14% Thursday after the company forecast second-quarter revenue of $60–$65 million, missing analyst estimates. First-quarter revenue fell 15.3% to $58.2 million as product volume slid 19.5%. U.S. retail and foodservice sales both declined sharply. Beyond launched a new protein drink and signed a distribution deal with Big Geyser for over 26,000 outlets in New York.