Shares of Beyond Meat (NASDAQ: BYND) were falling by 5.4% at 10:55 a.m. ET on Tuesday morning on no company-specific news, though The New York Times did publish an article today questioning whether the company's falling sales were due to inflationary pressures or because it has reached peak saturation. The article said while many consumers had been switching from high-cost plant-based meat alternatives to lower-cost real meat, some analysts believe it has reached about all the consumers it can and was at a plateau. According to a consumer survey by Deloitte, as reported by the Times, it seems doubtful the 53% of consumers who have not or will not try plant-based alternatives could ever be converted into customers.
Yahoo Finance Live anchors discuss the Wall Street Journal and New York Times blasting Beyond Meat’s leadership.
Despite launching multiple new products over the past few years, including meatless chicken tenders and jerky, that hasn't been enough to keep revenue from falling. The company blamed the underwhelming Q3 revenue numbers on a "challenging macro environment," and the reality is that might not be improving next year.