Oct. 23 at 7:16 PM
Beyond Meat Stock Slumps After Meme Rally Fades
Beyond Meat shares, which surged over 360% earlier this week to a high of
$7.69, fell again Thursday, extending their two-day losing streak. The stock had dropped below $ 1 earlier this month after revealing details of its debt-swap deal.
The company announced expanded distribution at more than 2,000 Walmart stores and upscale grocer Erewhon for its Beyond Burger and Beyond Beef products. Despite broader exposure, Beyond Meat continues to struggle with weak fundamentals—sales fell to
$326.5 million in 2024 from
$464.7 million in 2021, and it has never posted an annual profit.
Analysts say fading hype, debt pressure, and slowing demand in the plant-based meat category could make the meme-fueled rally short-lived.
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