Beyond Meat (NASDAQ: BYND) was a high-flying stock before and after the pandemic as consumers saw its plant-based meat as a healthy alternative to traditional meat products. Admittedly, the move to plant-based meat substitutes appeared promising. With that, the company launched its initial public offering (IPO) in May 2019, and Beyond Meat's share price quickly surged beyond the $25 per share IPO price to over $200.
Remember the hype around plant-based meat? Before the COVID-19 pandemic, investors were thrilled with the potential of alternative meat products. Beyond Meat (NASDAQ: BYND) was at the center of that craze when it went public in May 2019 at $25 per share before trading up to a peak of nearly $235 just a few months later.
Beyond Meat (NASDAQ: BYND), a pioneer in the plant-based meat industry, is in serious trouble. Not only has the company made mistakes, but the fake meat industry is also struggling. For companies with pricing power, an inflationary environment can be lucrative.