Bill Gates has been left reeling after McDonald’s announced they were ditching their ‘fake meat’ project due to the public’s dislike of the meatless burgers.
In November 2021, McDonald’s began testing the meat-free McPlant burger in eight restaurants across America. In February this year, McDonald’s then rolled out the McPlant burger at 600 additional locations. According to reports, the experiment ended as a complete failure.
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In a recent note, JP Morgan analyst Ken Goldman cited employees from McDonald’s revealing that the public hated the burger.
“Consensus contemplates 21 percent growth for BYND’s total top line this year, followed by another 25 percent next year. These rates will not be easy to hit, in our view, without [McDonald’s] in the U.S.,” Goldman declared.
Theepochtimes.com reports: In a June note, Peter Saleh, an analyst at global financial services firm BTIG, wrote about franchisees telling him about disappointing McPlant burger sales. The sale numbers were at or below the low end of estimates.
Early last year, Beyond Meat announced a three-year partnership with McDonald’s. Another partner, Taco Bell, was dissatisfied with Beyond Meat’s “carne asada” and has yet to test it in a single restaurant. The loss of potential sales to these big food chains is a significant threat to Beyond Meat, and its share price has plunged for several months.
Year to date, as of July 29, BYND shares were trading lower by more than 50 percent. In the past year, the company’s shares have fallen by close to 75 percent.
“I don’t really understand their strategy right now,” Arun Sundaram, an analyst at CFRA, said to Bloomberg. “They’re saying they have a vision where they’re introducing all kinds of plant-based meat products, but they don’t have the experience of scaling any individual product with the end goal of sustaining profits and cash flow.”
Inflation Effect
With the United States going through a high inflationary situation, investors are worried about Beyond Meat’s future. Walmart, for example, recently warned that food price inflation is forcing customers to turn toward cheaper items.
As Beyond Meat’s products can be pricier than its real meat equivalents, the threat of customers choosing to avoid the company’s items is a real concern. Beyond Meat also faces challenges from lower-cost fake meat alternatives.
During the first-quarter earnings call in May, Beyond Meat founder and CEO Ethan Brown explained that the company is finding it difficult to pass on rising costs to customers.
“You see all these new entrants coming in, and many of them are using price as a way to try to capture early market share,” Brown said, according to the earnings call transcript published at The Motley Fool.
“And so while the animal protein industry has been able to substantially increase pricing to essentially offset significant reductions in volume, in our sector, we have not had the opportunity to do that.”
Beyond Meat reported a net loss of $100.5 million in the first quarter of 2022. Its second-quarter results are due on Aug. 4.
Sean Adl-Tabatabai
I think McD is already meat free.
A man with NO science background who is a mad scientist is pushing “food” with unidentified, unknown ingredients – and no one wants it, go figure.
The feudalism class need people hooked on meat and wheat and sugar and rice and corn. They’re not interested in supporting Gates destruction of their livelihoods so he can buy them out.
Is Bill Gates still in Prison?
He needs to be dead
Death? Too easy. Gates needs a sentence where he gets a ball and chain on his ankle fighting fires in California in perpetuality
Not to worry – the cricket burger is otw,
no one wants to eat dog food.
they will get the weak minded to eat it. they got everyone to wear a mask, and most everyone to get a totally experimental drug into their bodies, and to top it off, they pushed their children, that have no risk at all to be bothered by the virus to take the experimental vaccine, untested, and dangerously risky.
You will be eating bugs and human flesh very soon. You don’t want to selfish do you?
lol they already have the weak minded eating vegan and gluten free.
Isn’t fake meat loaded with estrogen?
amoung other crap
Shouldn’t HUMANITY end the fake human, bill gates, and agenda(s)…..?
Big time. Let’s find and fund a good assassin
No problem as Gates can get his governments to make it mandatory to eat that shite same as he did with his bioweapon vaccine injections.
We need a way to communally fund the assassination of Gates, Schwab, Biden, Trump and others and level the playing field
take your pick: gmo garbage or human remains in your burger
Gates should be locked up in jail for the rest of his miserable life for crimes against humanity and fed only Macworm and Macricket burgers, washed down with Macswamp water.
McDonalds customers will eat just about anything, so this doesn’t bode well.
Meat is meat and man got to eat.