Beyond Meat Inc. fell as much as 10%, trading below its IPO price, even after hiring social media influencer Kim Kardashian as a brand spokesperson. Currently it is down 64% for the year, and 90% from its peak of $234 in 2019.

Bloomberg Intelligence analyst Jennifer Bartashus noted, “When you have a year like 2021, when sales growth for alternative meat products slowed substantially, there was a bit of a reaction that the potential for plant-based alternatives was overblown. There has been a challenging backdrop of supply chain issues, input cost inflation, labor costs rising and a flood of new competitors on the market.”

However others criticized Kim Kardashian’s first social media posting for the company, noting that the editing was done such that she was never seen putting the plant-based food in her mouth, and none of the food ever showed any bitemarks. Many believed she had refused to eat the product, with one Redditor posting, “I don’t think she even tried one thing. But every time she [took] a bite there was no bite marks or food actually going into her mouth and they kept doing weird cut aways soon as the food got close to her mouth.” Another viewer wrote, “I ain’t buying it cause you ain’t really eating it ?.”

 

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