S
Beyond Meat Stock Falls Another 23%. Why the Plant-Based Meat Maker Is Ailing
At its peak in 2019, Beyond Meat stock was trading upwards of $230, buoyed by enthusiasm for plant-based meat alternatives from health-conscious consumers and investors alike. But that optimism has waned, and that's reflected in the stock price.Shares fell below $1 for the first time Monday, reaching an intraday low of 85 cents. Beyond Meat was down 14% at 88 cents on Tuesday, putting it on pace for an all-time closing low.The stock has fallen more than 50% over the past two days, according to Dow Jones Market Data. Shares have been beaten down 77% this year, with the latest slump coming after the company disclosed the initial results of its debt-swap deal first announced in September.While the transaction would reduce the company's debt load by roughly $800 million, it would increase share count by more than 400%, diluting equity ownership for existing shareholders. Around 97% of the holders of its convertible notes agreed to the terms of the exchange, Beyond Meat said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
1
Report
Login to post
No comments yet