(Natural Blaze) Confirming yesterday’s observation that the market is quick and merciless to punish any and all stocks that miss expectations this quarter, moments ago (former growth stock) Beyond Meat plunged 14% after reporting preliminary net revenue for third quarter of about $106 million, missing the estimate of $134.3 million by about 30%, and a huge disappointment to the company’s prior guidance which was $120 million to $140 million.
Related Don’t Be Fooled: Lab-Grown Meat Is a Disaster in the Making
by Staff Writer, October 22nd, 2021
The company said that multiple factors contributed to the shortfall during the quarter:
- Demand was impacted by broader ongoing macro and micro-economic factors, including among others, the effects of the COVID-19 Delta variant
- Challenges in operations that led to unfulfilled orders
- Company experienced decrease in retail orders that persisted longer than expected from a Canadian distributor
None of this mattered to investors who now see just round after round of excuses from the management team, which will soon be on the fake meat chopping block unless it manages to restore some hope that this company is anything but very real dog meat.
Also, take note when normally promotional CEO’s begin to waffle in their public statements. $BYND https://t.co/e4rmzMPxqy
— Diogenes (@WallStCynic) October 22, 2021
Please consider becoming a $10 a month donor.
(Donate HERE)
Stillness in the Storm Editor: Why did we post this?
The news is important to all people because it is where we come to know new things about the world, which leads to the development of more life goals that lead to life wisdom. The news also serves as a social connection tool, as we tend to relate to those who know about and believe the things we do. With the power of an open truth-seeking mind in hand, the individual can grow wise and the collective can prosper.
– Justin
Not sure how to make sense of this? Want to learn how to discern like a pro? Read this essential guide to discernment, analysis of claims, and understanding the truth in a world of deception: 4 Key Steps of Discernment – Advanced Truth-Seeking Tools.
Stillness in the Storm Editor’s note: Did you find a spelling error or grammatical mistake? Send an email to corrections@stillnessinthestorm.com, with the error and suggested correction, along with the headline and url. Do you think this article needs an update? Or do you just have some feedback? Send us an email at sitsshow@gmail.com. Thank you for reading.
Source:
https://www.naturalblaze.com/2021/10/beyond-meat-implodes-after-reporting-catastrophic-q3-sales.html
DIRECT DONATION
Support our work! (Avoid Big Tech PayPal and Patreon)
Leave a Reply