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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Beyond Meat in Dire Straits

10/23/2022

In a Friday October 14th announcement, Beyond Meat (BYND) announced a 20 percent workforce retrenchment in an SEC filing. Concurrently CFO Phillip Hardin announced his resignation along with Deanna Jergens, formerly Chief Growth Officer.  Doug Ramsey recently appointed COO who was involved in an altercation in Arkansas was terminated after his suspension.

 

On January 4th BYND traded at $61.62 and closed on Friday October 21st at $13.82. After the IPO, BYND peaked on July 22, 2019, at $234.90 on exuberance over the overrated potential of plant-origin meat substitutes.  Market capitalization at close of trading on 21st October was $804 million.

 

On a 12-month trailing basis the company has recorded an operating margin of -65.2 percent and a profit margin of -71.8 percent.  Return on assets is -14.1 percent and on equity -321 percent.  Approximately nine percent of shares are held by insiders and 57 percent by institutions.  As of September 30th, 48 percent of the float was short.

 

Either this company will collapse or a competitor will acquire the assets putting it out of its misery.

 


 
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