BYND - Why Beyond Meat Is Crashing Today
2024-07-18 12:31:34 ET
There was a time when Beyond Meat (NASDAQ: BYND) was hailed as a must-have investment due to the planet-saving nature of its products. Now the plant-based meat manufacturer is seemingly fighting for its own survival. Beyond Meat shares are down 10.6% as of 12:05 p.m. ET today, according to data from S&P Global Market Intelligence , in response to reports that the company is looking to restructure its debt.
That's the polite way of saying the company's management team is increasingly concerned that it won't be able to service or pay back the $1.4 billion worth of long-term obligations currently sitting on its balance sheet at this debt's current terms.
Beyond Meat has neither confirmed nor denied the report, for the record. Coming from the Wall Street Journal 's citing of "people familiar with the matter," however, it's not as if the possibility lacks credibility.
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Why Beyond Meat Is Crashing Today