BYND - Should Investors Be Concerned About Beyond Meat's Loss of Market Share?
2024-04-15 04:00:00 ET
Beyond Meat (NASDAQ: BYND) went from new industry darling to beaten-down stock over the past few years, and its shares are down a staggering 97% from the high they set soon after the 2019 IPO.
The company has been reporting quarter after quarter of declining sales and steep losses, but investors cheered its fourth-quarter earnings report, sending the stock as much as 60% higher. Those gains were short-lived, however, and Beyond Meat is down 25% year to date with a low price-to-sales ratio of 1.2. But even if investors were initially excited about the company's recent progress, there's reason to be concerned about Beyond Meat's future.
The meat substitute industry has been growing, and it should continue to do so over the next few years, according to data from Statista.
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Should Investors Be Concerned About Beyond Meat's Loss of Market Share?