Beyond Meat Falls the Most Since 2020 Following Guidance Cut
- Company cuts sales guidance, backs off its cash-flow target
- Management is slashing spending as cash on hand declines
Beyond Meat breakfast sausage.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Beyond Meat Inc. plunged after the plant-based meat company backed away from a key financial target and cut its sales outlook, sparking fresh doubts among investors and analysts.
The company’s cash reserves are dwindling as consumer interest in plant-based meat wanes. Management is revamping the business to reflect the new reality while slashing spending to achieve sustainable footing.