Smart Trader Club

  /  Trading News   /  2 “Strong Buy” Dividend Stocks With 8% Dividend Yield

2 “Strong Buy” Dividend Stocks With 8% Dividend Yield


Beyond Meat signals more pain ahead as demand slows, shares tumble 19%

(Reuters) -Beyond Meat Inc forecast fourth-quarter revenue below estimates on Wednesday, as the once red-hot plant-based meat maker reported slowing demand in both grocery stores and restaurants, driving its shares down 19% in extended trading. Sales of its faux meat fell at fast-food locations when the Delta COVID-19 variant hit and labor shortages caused restaurants to cut hours and trim menus, Chief Executive Officer Ethan Brown said in an earnings call. Widespread supply chain problems and labor shortages at Beyond’s own facilities and a transportation provider also hampered operations, as did water damage related to severe weather that destroyed “sizeable amounts” of packaging at a Pennsylvania storage center.

Post a Comment