Fake meat: Beyond Meat plunges on the stock exchange
Beyond Meat plummeted on the Nasdaq stock exchange in yesterday's session, with a negative percentage change of 16.66%.
09, Aug 2023
The plant-based hamburger maker revised its full-year revenue estimate downwards to $360-380 million versus its previous guidance's range of $375-415 million. In the second quarter, revenues fell 30.5% to $102.1 million and below the $108.4 million consensus estimate.
The one-week technical scenario of the stock compared to the Nasdaq 100 index shows a slowdown in the Beyond Meat trend compared to the US technology stock index, and this makes the stock a potential target for investors to sell.