Beyond Meat Introduces Steak Substitute

Beyond Meat has made headlines yet again, this time for their newest product: Beyond Steak.

Beyond Meat states that its new steak substitute is made from faba bean protein and has a lower saturated fat content than beef steak and contains 21 grams of protein and no cholesterol.

According to CNBC, Beyond Steak will be available at “more than 5,000 Kroger and Walmart stores, as well as Albertsons, Ahold Delhaize, Jewel-Osco, Sprouts and other local grocers.” 

This announcement comes to us on a more positive note compared to the news that previously broke about the company. In September, Beyond Meat COO, Doug Ramsey, was arrested for making terroristic threats and assaulting a man in a parking garage. The brawl happened after an Arkansas football game and ultimately ended up with Ramsey biting the victim’s nose, according to the arrest report. 

Earlier this month, the incident made news again after Beyond Meat announced Ramsey’s departure from the company. It was also announced that the company had plans to cut 19% of its workforce as stocks trade at an all-time low, according to CNBC. 

Beyond Meat Stock has been slipping and according to CNBC, “This year, shares of the company have lost 80% of their value, shrinking its market value to $821 million. At its record high in July 2019, Beyond was valued at $13.4 billion.” 

Additionally, CNBC acknowledged past product launches from Beyond meat which has driven new and returning customers to purchase the product, boosting sales. It seems like that is exactly what Beyond Meat needs right now.