1 year, 7 months ago

Fake Meat Is Bleeding, but It’s Not Dead Yet

The day it went public in May 2019, Beyond Meat’s stock soared by 163 percent—the best one-day performance for a major American company in nearly two decades. On an earnings call on August 7, 2023, Beyond Meat CEO Ethan Brown told investors that net revenues had decreased 31 percent year-on-year, prompting the company’s share price to slip more than 10 percent. But while it’s true that enthusiasm for vegan meat alternatives among consumers does seem to have waned, there is still a lot of room for plant-based proteins to grow. Recurring purchases are crucial for companies to grow, says Johnny Ream, a partner at the food tech venture capital fund Stray Dog Capital, which was an early investor in Beyond Meat.

Wired

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