The future of plant-based meat is showing signs of uncertainty, according to the latest reports from Beyond Meat. The plant-based meat company’s stock dropped a whopping 17% Thursday after the third-quarter results showed disappointing losses and a less-than-enthusiastic outlook for the fourth quarter. The company referenced the ongoing delta variant, restaurant labor challenges and severe weather for its weak report, but skepticism from analysts are encouraging investors not to buy stock as the demand starts to dwindle. Other analysts at J.P. Morgan say the company is seeing a noticeable slowdown in the plant-based protein category, suggesting a potential shift from the original high growth rates expected.
While Beyond Meat says they are optimistic about 2022, another source, a Bank of America securities analyst, shared that trial and demand for meat alternatives has slowed, suggesting positive signs for real beef.
Read more on concerns for the future of plant-based protein.
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