Beyond Meat’s Shocking Collapse: BYND Stock Crashes Below $1 Amid Debt Deal Chaos
Beyond Meat shares plunged nearly 60% in one day, closing at $0.65 on Oct. 17 after a debt-for-equity swap triggered a flood of 316 million new shares. Founder and CEO Ethan Brown resigned from the board as analysts warned of a “death spiral.” The company reported Q2 revenue down 20% year-over-year and a net loss of $33 million. Cash reserves have dwindled to $117 million against $1.2 billion in debt.