Beyond Meat's Earnings Plunge 30% Amidst Declining Demand

Beyond Meat, the troubled plant-based meat company, reported a 30% decline in revenue for the second quarter due to falling demand. The company cited high inflation, rising interest rates, and concerns about a recession as factors impacting the plant-based meat sector. Beyond Meat also reduced its revenue outlook for 2023 and experienced a decrease in volume of products sold. Shares of the company fell almost 10% in after-hours trading and have fallen over 60% in the past year.