The CEO, who said he's not touching his shares, said he wants to build the business organically. "People have asked me, 'Do you want to do a partnership with a larger company?' I have no interest in that. I want to be that larger company."
Despite Tuesday's weakness and other bouts of recent selling, the stock was still up more than 230% since its IPO was priced at $25 per share. However, competitors are popping up as big food companies and traditional meat producers roll out their own versions of plant-based products. "The consumer is looking for something new from somebody new," Brown countered. "It's hard for an incumbent to focus as we do, to move as quick as we do."
Privately held Impossible Foods, a direct competitor in meatless burgers, began selling in grocery stores in September, with plans to continue making it available in more regions nationwide. Brown said he has not any diminished grocery sales or shelf space for Beyond Meat.before being added to restaurant menus, Impossible took a different route. New York's Momofuku Nishi, founded by celebrity chef David Chang, was the first business to sell the plant-based Impossible Burger in 2016.
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More like waiting for embargo to end to sell out.
How many shares is he selling today?
Here to invest 😉
Could be that the product just tastes like dogshit
Belgique Dernières Nouvelles, Belgique Actualités
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