Beyond Meat sinks on restructuring talks with bondholders

Beyond Meat (BYND) shares are falling sharply on Thursday. The company is engaging in conversations with bondholders about a balance-sheet restructuring, a source confirmed to Yahoo Finance. Beyond Meat has struggled in what has become a competitive market. The Wall Street Journal first reported on the talks with bondholders.

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This post was written by John Lesinski

Video Transcript

Taking another look at a company we're watching beyond shares sinking this morning after the Wall Street Journal reported that the company engaged with a group of bond holders to initiate discussions about a balance sheet restructuring.

The stock has had a rough time since it went public back in 2019, shares are down about 90% from that IP O.

And if you take a look at shares for beyond today, they are down, I believe over nine percent here sinking again after this, a plant based meat maker talking about restructuring here.

It's down nearly 9% an hour after the market opened here.

And again, this is a name that continues to struggle in a very competitive market and also struggling.

I mean, we've seen so many idiosyncratic news events impacting this name.

I think back to the Nathan's hot dog eating conversation leading to some movement on this stock, but certainly not enough when it comes to some of the company fundamentals that we're seeing and our executive editor Brian Sa the uh reaching out on the heels of this report last night and be able to confirm with a source about the bondholder reach out there going forward.

But again, I, I think this just brings up lots of questions about what the future looks like for beyond the A and this is a stock.

If you take a look at the max chart here on the stock, it's down tremendously just around a 90% I believe, right, around 90% on that max chart here are lots of questions about what exactly demand is going to look like going forward, a ability to offset rising costs and exactly what the future holds.

And you can see really over the last year or so.

We haven't seen too much movement just in terms of the fact that how far it had fallen from those peak levels that we had seen a couple of years ago.

And again, over the past year, you're still looking at losses of another 60% here and again, trending right along at the bottom of that chart here over the last several months.

So here we are today with that stock trading below seven bucks a share.

So again, we will follow this story going forward.