With demand for their products hovering just above spoiled chicken, the Beyond Meat corporation is still fighting to stay afloat. Despite their best efforts, the second quarter saw the company’s revenue drop 30% in the second quarter. Beyond Meat president and CEO Ethan Brown believes they can still finish strong and has dropped his revenue prediction to the range of $380 million to $360 million.
Delusionally, Brown believes the company can still “play an important part of the global response to a climate crisis that appears to be rapidly intensifying while also delivering health benefits.” With people being pushed towards eating in instead of going out, Beyond Meat lost its ability to be a bad decision at a restaurant following a doctor’s appointment. Now, since people have to look at the real meat options face-to-face, it’s harder to lie to themselves and say it all tastes alike.
In 2022, three members of their C-Suite left for greener pastures, with one executive biting a man’s nose at an Arkansas football game before leaving. That alone should tell investors everything they need to know about the company- their products are so dishonest and horrific that people will resort to cannibalism before another fake meat burger.
A year ago, they were at $147 million in revenue by August, this year, they are only at $102.1 million. With reports of a 24% decrease in the volume of products sold, it’s not just the restaurant market that stopped buying them.
The whole concept was a flash-in-the-pan idea from the start. People inherently would love to eat healthy, but most of us lack discipline. Especially when things like real beef, real sugar, and chocolate all taste amazing, especially compared to their “healthier” alternatives.