Beyond Meat Inc. – BYND – When the company went public in 2019, its shares skyrocketed as investors bet that the meatless movement was finally having its moment. During the pandemic, Beyond Meat’s grocery store sales surged as curious consumers tried its vegan options and the marketing concept of “Healthy Living”.
But these days, the reality has made a brutal catch up for the company. Not only Beyond Meat but the entire alternative food industry has lost some of its sizzle. BYND stock has slumped nearly 83% in the past year. Sales, which the company had expected to rise as much as 33% this year, are now likely to show only minor growth. In a recent article published by the New York Times, it is questioned whether the stock and the entire alternative food industry can regain from fake food glory.