Beyond Meat Drops 22%

On Tuesday, shares of Beyond Meat plunged 22%.
The drop came after the company reported a large revenue miss and slow sales growth in the third quarter.
Beyond Meat reported net revenues of $94.4 million vs. $132.8 million expected by Wall Street.
There was a loss per share of 28 cents versus the estimated earnings per share of five cents.
CEO Ken Goldman attributed the third quarter loss to consumers "freezer loading" in the second quarter during the pandemic.
Analysts at JPMorgan said it's unclear why Beyond Meat is floundering.
Investors were also confused about the scope of Beyond Meat's collaboration with McDonald's in launching the new "McPlant."