Beyond Meat Reports 30 Percent Revenue Drop

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Plant based meat manufacturer Beyond Meat reported a sharp 30% revenue drop year over year. In its second quarter reported revenue. This quarter was $102.1 million compared to 147 million. This time last year, the plant based company highlighted less consumer demand. Ceo Ethan Brown lowered beyond meat's revenue outlook this year. The company stated it had been impacted by high inflation, rising interest rates and ongoing concerns about the likelihood of a recession. Shares of beyond meat fell close to 60% this past year.