Shares of the largest manufacturer of artificial meat Beyond Meat collapsed by 15.62 percent on Friday, October 22, at the beginning of the trading session on the NASDAQ Stock Exchange. At the previous closure of trading actions cost 108.62 dollars per piece. At 16:50 Moscow time paper fell to 91.65 dollars.
The reason has become pessimistic outcome forecasts in the third quarter. The company expects a revenue of $ 106-133 million instead of the projected 120-140 million. The deterioration of the forecasts was influenced by many factors, including the fall in demand and poor outcome of the shop shelves caused by a lack of labor.
In early October, it became known that the Network of Fast Foods Burger King will begin in the USA sale of Nuggets made from artificial meat Beyond Meat. Previously, nuggets from such meat appeared in the KFC and McDonald’s menu, but produced by competitors Beyond Meat.
In August, the founder of Beyond Meat Ian Brown offered to introduce a tax on the production of meat of animal origin. A businessman believes that such an initiative will reduce meat consumption and will help developing countries to invest in the production of protein plant sources.