Beyond Meat’s stock slides 20% on weak sales, heads lower than IPO price for first time

Beyond Meat Inc.’s not-so-good 2022 took an ugly turn for the worse Wednesday with quarterly results that lacked sizzle.

The maker of plant-based meat products
BYND,
-13.83%

reported a net loss of $100.5 million, or $1.58 a share, compared with a net loss of $27.3 million, or 43 cents a share, in the same quarter a year ago. Net revenue, at $109.5 million, inched up 1% from $108.2 million last year.

Analysts polled by FactSet…

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