Alternative meat company Beyond Meat released its fourth-quarter earnings with continued red flags to investors. Last quarter, the company’s revenue rose 13% to $106.4 million, but net loss was just under $55 million. Shares that once traded over $234 in 2019 are now trading under $50. A J.P. Morgan stock analyst Ken Goldman called Beyond Meat “the worst performer in our universe in the last year” as stock price fell 67% in a market that saw median gain of 13%.
So where are the losses coming from? Beyond Meat’s (plant-based) bleeding cash mostly stems from R&D, where expenses rose 78%. Additionally, the product price isn’t competitive, as it remains as much as double the price of real beef.
Read more on the alternative meat company here.
Editorial photo credit: Robert Kneschke – stock.adobe.com
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