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