How would you like your burger? Plant-based, cultivated in a vat or swapped out for a salad?
Beyond Meat was hoping to entice carbon-conscious carnivores with the first option, creating a massive new market in the process. That has spectacularly failed to occur. As a result, even after Friday’s bump in the stock on the back of better than feared fourth-quarter results, the fake-steak provider is trading some 90 per cent below 2019 highs.
Beyond Meat is having to adjust to a whole new reality. It started life as a tech-style disrupter, with a mission to upend the $1.2tn meat industry. Its concept — vegetarian “meat” for the meat eater — looked plausible enough.
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