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September 26, 2022

Epic Woke Fail! Fake Meat COLLAPSES! Beyond Meat & Impossible Meat Lose 90% Of Company Value!

TheQuartering [9/26/2022]

According to FoodProcessing:

Beyond Meat’s losses continued to widen in the most recent quarter, a situation attributed by management to higher expenses and production issues.

One of America’s two major pure-play alt-protein companies, Beyond Meat lost $100.5 million in the quarter ending April 2, compared with a loss of $27.3 million in the same quarter last year. Its gross margin plunged to 0.2% for the quarter, compared with 30.2% last year.

A new product, plant-based jerky, proved to be a source of losses, with inefficient production across several facilities. The jerky rollout helped increase sales by 6.9% year-over-year, with net revenue up 1.2%.

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