Why Beyond Meat Stock Got Hammered Today
Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) got hammered on Thursday after the company reported financial results and announced a stock offering. The company had a negative gross profit margin in 2022 but its gross margin jumped to 6.7% in Q1. Beyond Meat's management maintained its full-year revenue guidance of $375 million to $415 million, implying a 1% to 10% year-over-year drop.