Beyond Meat Stock Gyrates on Sales Miss, McDonald’s Pact
- Faux meat maker also announces agreement with Yum Brands
- Slower restaurant sales are weighing on company’s results
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Beyond Meat Inc. shares gyrated sharply in after-market trading on Thursday as agreements with McDonald’s Corp. and Yum! Brands Inc. -- two of the largest fast-food companies in the world -- were offset by sales that missed expectations.
The stock sank 3.3% at 5:21 p.m. in New York. Competing news releases from the faux meat maker whipsawed the shares, with lackluster sales first sending them down as much as 11%, before news of the partnerships with Yum and McDonald’s caused a sharp reversal.