![]() ![]() Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Its shares have fallen more than 60% in the past year.ĬNN’s Danielle Wiener-Bronner contributed to this report. Shares for the Calfornia-based company fell almost 10% in after hours trading. Beyond Meat also announced a 24% decrease in volume of its products sold. US revenue plunged almost 40% while international revenue dropped 8.7%. This quarter’s revenue was $102.1 million compared to $147 million this time a year ago. The company's initial products were launched in the United States in 2012. Three members of its C-suite also left in 2022, including one executive who allegedly bit a man’s nose. is a Los Angelesbased producer of plant-based meat substitutes founded in 2009 by Ethan Brown. Inflation pushed customers toward choosing cheaper basics and grocery stores and eating at home instead of dining out, and it’s also facing growing competition. Once a Wall Street darling, a slew of problems and controversies plagued the company in 2022. The company cited “high inflation, rising interest rates, and ongoing concerns about the likelihood of a recession” for softer demand in the plant-based meat sector. But he added that he still believes the company will “play an important part of the global response to a climate crisis that appears to be rapidly intensifying, while also delivering health benefits.” Beyond Meat president and CEO Ethan Brown said in a statement that the company is reducing its revenue outlook to between $360 million and $380 million for 2023, a decrease of about 9% to 14% compared to 2022. ![]()
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