Beyond Meat Stock Is Getting Cooked After The Close: What's Going On?
Portfolio Pulse from Adam Eckert
Beyond Meat Inc (NASDAQ:BYND) shares dropped 16.32% in after-hours trading following a Wall Street Journal report indicating the company's weakened liquidity position and potential balance sheet restructuring. The company has been in a downtrend since 2021, burning through cash with $173.5 million in cash and cash equivalents as of March 30. Analysts expect a loss of 51 cents per share on revenue of $87.808 million in the upcoming earnings report.
July 17, 2024 | 9:07 pm
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Beyond Meat's stock fell 16.32% in after-hours trading due to concerns over its liquidity and potential balance sheet restructuring. The company has been burning through cash and is expected to report a loss in the upcoming earnings report.
The significant drop in Beyond Meat's stock price is directly tied to the news of its weakened liquidity position and potential balance sheet restructuring. This indicates severe financial instability, which is likely to negatively impact investor sentiment in the short term.
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IMPORTANCE 90
RELEVANCE 100