EL SEGUNDO, CALIF. – The Delta variant of COVID-19 combined with numerous operational and supply chain issues impacted Beyond Meat, Inc.’s performance during the third quarter of fiscal 2021, according to the company. Beyond Meat’s stock price fell to $80.55 per share, nearly 15%, at the beginning of trading on Nov. 11 when compared to the previous day’s closing price.

“The headline for the third quarter relative to our expectations at the onset of 2021 is that it was a difficult operating environment,” said Ethan Brown, president and chief executive officer, during a Nov. 10 conference call with securities analysts. “Highly variable demand, reflecting the Q2 retreat and then Q3 reemergence of COVID in the form of the Delta variant, sustained labor shortages impacting certain customers as well as our own facilities and other high-impact supply chain disruptions are among the challenges characterized in the quarter.”…

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