Beyond Meat is among the pioneers of plant-based steak.
The value of its stock has experienced a significant decline in recent months, with a drop of over 14% on August 8th. After entering Wall Street at $25 per share, Beyond Meat’s stock is now at $13.
Demand has slowed considerably, both in the retail market and for contracts with the restaurant industry.
The profitability of startups in the plant-based meat sector largely relies on strong sales growth, which is necessary to offset research and innovation costs.
However, Beyond Meat expects a tightening of its revenue for this year, ranging from 9% to 14%. The company’s goal of achieving financial balance by 2023 is now moving further away.