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.
