Shares in Bill Gates’ Fake Meat Company Tank as Consumers Reject Bioengineered ‘Food’ | Neon Nettle
Posted by M. C. on November 15, 2021
By: Jay Greenberg
Shares in the fake meat company co-owned by Bill Gates, Beyond Meat, have plummetted 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.
However, Beyond did not sell as many products at restaurants during the quarter either.
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mickmar21 said
Much like “vegan meat” in the supermarkets here in Australia. It is hard to sell even when discounted, as meat comes from animals after all.