Wednesday, 02 February 2022 12:00

Fake flake

Written by The Hound

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OPINION: They say nothing is as good as the real thing - and this seems to be the case for fake meat company Beyond Meat.

Reports show it has become one of the most 'shorted' companies on the US stock market as investors fret over weaker-than-forecast sales and scepticism grows over the plant-based 'meat' boom.

Short sellers - who make money on share price falls - have piled into the stock.

Short positions on Beyond Meat shares have increased 40% since late October, when the California-based company issued a revenue warning.

The ballooning bets against Beyond Meat come amid rising uncertainty about the growth in plant-based meat: Data from the US and UK show that sales, which soared in 2020, flattened out in 2021.

Although US retailers' sales of plant-based meat grew 1.6% in December, numbers fell between March and November, taking total revenues for the year down 0.5%.

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