Retail

Beyond Meat stock tumbles as analysts worry about its long-term growth

0


A package of Beyond Meat beef crumbles is displayed for a photograph in Tiskilwa, Illinois, April 23, 2019.

Daniel Acker | Bloomberg | Getty Images

Beyond Meat’s stock cratered 17% in morning trading Thursday as Wall Street voiced doubts about the company’s growth prospects.

The plant-based meat maker reported disappointing third-quarter results after the bell on Wednesday. Its loss was wider than expected, while revenue fell short of expectations, even after a warning from the company last month. Beyond also issued a gloomy outlook that indicated sales wouldn’t snap back immediately.

Jefferies called it “the quarter that likely broke the camel’s back.” Bernstein analyst Alexia Howard



Source cnbc.com

0 0 votes
Article Rating

Workers quit jobs in record numbers as consumer sentiment hits 10-year low

Previous article

Climate campaigners to target banks after Shell court ruling

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Retail