Ukrainian General Says War Will Be Over by Year-End; Russia Says It Will Act If NATO Moves Nuclear Forces Nearer
Companies and investors alike bet that consumers would keep eating meat alternatives and drinking milk substitutes, such as Oatly's oat-based beverage, even as Covid fears eased and lockdowns lifted. Beyond's stock has had an even more dramatic ride. It debuted on the public markets in May 2019 at $46 per share and soared in the months after, hitting an all-time high of $234.90 on July 26 of that year, which gave it a market value of $13.4 billion. The stock closed Friday at $31.24 per share, with a market value of under $2 billion.
"You also saw irrational exuberance in the category and the entrance of many, many new players, which took a lot of shelf space, took a lot of trial, not always the highest-quality offerings, to be honest with you," Cahillane told analysts on Kellogg's earnings call.sounded the alarm that growth of its plant-based products was slowing, according to Aucoin.
Beyond Meat CEO Ethan Brown told analysts on Wednesday's call that the company's weak performance stemmed from four factors: softness in the overall plant-based category, a consumer shift from refrigerated meat alternatives to frozen ones, higher discounts and increased competition. Josh Tetrick, CEO of JUST Egg, which accounts for about 95% of U.S. egg substitute sales, told CNBC he sees plenty of growth ahead.
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Источник: thedailybeast - 🏆 307. / 63 Прочитайте больше »
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