Shares of the American company Beyond Meat, the largest manufacturer of artificial meat, collapsed. This is evidenced by the NASDAQ exchange data. In the postmarket in the moment securities were increasing by 19 percent to $ 76.26 per piece, but soon adjusted to 77 dollars.
Podov for the fall was the yield of a quarterly report of the company. Beyond Meat reported a loss in the third quarter by 54.8 million dollars. In the same period last year, a loss was 19.3 million dollars. The company predicts a revenue from 85 million to $ 110 million in the fourth quarter. It is less than waiting for analysts, who talked about growth by 130.5 million.
before this share of the company sharply fell at the end of October. The cause has become pessimistic prognosis for income in the third quarter. 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.
Following the results of the second quarter, the company’s shares fell on 31 minutes, although Refinitiv analysts predicted a fall at 24 cent. Net loss grew to 19.7 million dollars. Losses are associated with an increase in the investment in the expansion of the state, marketing, as well as the growth of transportation costs. In the United States, demand for products fell, although this market accounts for two thirds of the entire BEYOND revenue. The company explains this by the fact that last year the buyers pointed in the course of the future.