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Yahoo Finance's Allie Canal discusses whether Kim Kardashian's star power can boost Beyond Meat's beleaguered stock.
SEANA SMITH: Beyond Meat betting big on star power, teaming up with a name that you're probably familiar with, Kim Kardashian, for its new ad campaign. Now, Kardashian's newest title on her resume, Beyond Meat's chief taste consultant. Yahoo Finance entertainment reporter Alexandra Canal has more on this for us. And Allie, I guess, first, any idea of what exactly that means, chief taste correspondent for the team?
ALEXANDRA CANAL: Well, apparently, she's a big fan of Beyond Meat. She feeds it to her kids. She said it's her favorite plant-based brand. So perhaps she's going to help them with their sustainability goals, to see what different products, but to me, this feels like, OK, she has 313 million followers on Instagram alone. So I feel like she's going to heavily promote the products.
Now, on the heels of this news, Beyond Meat saw a bit of a stock pop before plummeting again. We know Beyond Meat has struggled with that Wall Street rebound. It closed down 7% today. It's down 80% year over year, more than 60% year to date. And this is due to a few factors. I've been on this show multiple times talking about the plant-based revolution. A lot of new companies out there, not just plant-based, but lab grown meat. We talked yesterday, Seana, about fungi-based meat.
So a lot of competition and investors are getting a bit more critical with their questions. How healthy is Beyond Meat? How can we make it taste better? So I think because of that, they're struggling to sustain the growth that we saw when it skyrocketed in its IPO. It's now trading below that IPO price. So it's struggling a bit, but hopefully, Kim K can help revive them. She's a billionaire. She has multiple businesses. She's obviously real present online, in the streets. They love Kim K.
DAVE BRIGGS: Really need that McPlant burger at McDonald's to succeed.