Motley Fool host Alison Southwick and Motley Fool personal finance expert Robert Brokamp talk with Motley Fool senior analyst Emily Flippen about some of the biggest consumer goods storylines of the year, and stocks to watch in the sector. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center.
A broad cross-section of stocks slumped this week, as a decision by the Federal Reserve Bank brought the macroeconomic challenges front and center. Among the casualties, plant-based meat specialist Beyond Meat (NASDAQ: BYND) was off by as much as 20.1% this week, daily fantasy sports and online gambling leader DraftKings (NASDAQ: DKNG) was down as much as 16.7%, and sustainable footwear maker Allbirds (NASDAQ: BIRD) was down as much as 13.5%, according to data provided by S&P Global Market Intelligence. As of the close of the trading day on Thursday, the trio was still trading lower, down 16.7%, 16.2%, and 12.4%, respectively.
Wall Street is getting increasingly bearish on the maker of plant-based meat substitutes. Blame the economy.