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Lab Grown Meat: Are You Kidding Me?

November 16, 2021 By Richard C. Young

By anyaivanova @Shutterstock

Jay Greenberg of LewRockwell.com writes (abridged):

Shares in the fake meat company co-owned by Bill Gates, Beyond Meat, have plummeted as growing numbers of consumers reject bioengineered “food.”

Despite an ongoing push from the global elite – who unlikely consume the stuff themselves but insist that you eat nothing else, demand for lab-grown “meat” has slowed far beyond shareholders’ predictions.

On Wednesday, Beyond Meat Inc (BYND.O) forecast fourth-quarter revenue below estimates.

The move came as the once red-hot plant-based “meat” producer reported slowing demand in both grocery stores and restaurants.

The news ended up driving the company’s shares down by a whopping 19 percent in extended trading.

The company, which generates the bulk of its revenue from retailers, had cut its third-quarter revenue forecast last month.

The company reported taking a hit from fewer people stockpiling plant-based burgers and sausages at home after they returned to dining out.

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Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
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