Beyond Meat shares have dropped 32% this year through July 24, extending a multi-year decline that has wiped out 99.6% of the stock's value over the past five years. The plant-based meat company's revenue fell from nearly $465 million in 2021 to $275.5 million last year, a roughly 40% drop, and first-quarter revenue declined 15.3% year over year to $58.2 million. Management plans to expand beyond plant-based meat into broader protein offerings including plant-based drinks, though the strategy carries risk given the company's weak position. The Motley Fool's Lawrence Rothman advises avoiding the stock until the turnaround shows results.
Beyond Meat IncRevenue declining 40% from 2021 to 2023 and 15.3% YoY in Q1 indicates falling demand for its products.
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