BYND - Should Beyond Meat Investors Be Worried About Kroger's New Faux Meat Line?
Supermarket chain Kroger (NYSE: KR) is the latest company to don a pair of gardening gloves and dig its way into the plant-based meat trend.
The new line of patties and ground faux meat extends the grocer's private label, Simple Truth Plant Based, one that it expects will see 50 different products launched this year.
Aside from the fact that Kroger plans to price its store brand of pea-based meat alternatives below that of Beyond Meat (NASDAQ: BYND), this new competitor actually poses a bigger risk to the industry leader than might seem possible, because it reveals several uncomfortable truths about Beyond Meat's position.