Beyond Meat falls 20 percent amid surprise loss, McDonald’s confusion

DM

Beyond Meat’s shares tanked more than 20 percent on Tuesday after the plant-based patty maker reported a surprise quarterly loss amid weakening sales, even as confusion persisted about its relationship with McDonald’s. The El Segundo, Calif.-based company said COVID-19 restrictions were sapping demand at restaurants it supplies, while demand for its plant-based burgers and sausages at grocery stores has begun to drop after initial rounds of stockpiling by shoppers. The fake-meat maker’s shares recently were changing hands at $120.50, down 20 percent from the previous day’s close.

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