Idiots on Wall Street

it tastes like nose meat

Beyond Meat Is Beyond Hope

Silly little eco-twits believed their teachers’ preachings and “invested” accordingly. These are the people controlling trillions of dollars and shaping the world.

Beyond Meat stock is crashing. What a stunning development.

In 2019 Beyond Meat went public amid massive media coverage, and its stock popped. It reached a high of $234 a share in the summer of 2019. Partnerships with distributors, retail grocery chains and fast-food restaurants were announced. A PR blitz led to fawning press coverage. This is the future. It’s healthy. It’s sustainable. Cow flatulence causes climate change. Eat this fake burger or everyone’s going to die.

Beyond Meat was inundated with initial-public-offering cash, and its products began appearing in restaurants and on grocery shelves. You can find Beyond Meat burgers, breakfast sausages, brats, Italian sausages and something called “Beefy Crumbles” at Walmart. Beyond Meat jerky even started showing up in convenience stores next to the real beef jerky, corn nuts and pork rinds. McDonald’s introduced the McPlant.

The question that many investors, cheerleaders or financial analysts apparently didn’t bother to ask: Who’s going to eat this?

…. Beyond Meat’s market capitalization reached a high of $14 billion in 2019 and was still over $9 billion in June and early July 2021, with a stock price around $150 a share. On Friday the stock closed at $18.29, for a market cap of $1.16 billion. Even that’s probably too high.

There’s a lesson here: It’s important to ask the simple questions like, “Who’s going to eat all the product?” Wishful thinking, media hype, and “It’s the future!” bandwagon appeals can’t repeal the laws of supply and demand. Speaking of supply, does anyone know what the shelf life is for those Beyond Meat burgers at Walmart?