Beyond Meat shares fall 16% after company delays financial results
Beyond Meat Burger is displayed at a store in Port Washington, New York, USA on June 3, 2019. The photo was taken on June 3, 2019.
Shannon Stapleton | Reuters
shares Beyond Meat It fell on Monday after the company delayed its third-quarter financial results.
The plant-based meat maker will now report earnings after the market closes on November 11. Beyond Meat said it delayed its results because it needed more time to calculate an ingredient. non-cash impairment charge It relates to some long-lived entities.
Beyond Meat became a meme stock in October, rising from under $2 to nearly $8 at one point as traders at Robinhood and other brokerages flocked to the stock after it was added to the Roundhill Meme Stock ETF and likely by hedge funds to capitalize on a large short position.
Shares fell 16% to $1.39, below the $1.89 low in late September.
