Beyond Meat stock declines amid reverse split and weak revenue forecast

Beyond Meat has done a reverse stock split, combining every 30 shares into one share. The company needed to do this to keep its listing on the Nasdaq stock exchange, because its share price had fallen below one dollar.

The plant-based meat company also warned that its revenue for the third quarter will be between $60 and $65 million. That is lower than the $70 million it earned in the same period last year. Company sales have fallen sharply since 2021, when they reached $465 million.

Beyond Meat's stock has lost more than 75% of its value this year. Analysts currently rate the stock as a moderate sell, with a target price of $0.66.