Consumer
Beyond Meat Plummets After Debt Swap Massively Dilutes Shareholders
Packages of Beyond Meat burgers in a grocery store in Dobbs Ferry, New York.
Photographer: Tiffany Hagler-Geard/BloombergBeyond Meat Inc. tumbled the most since the company went public in 2019 after the troubled plant-based protein producer said nearly all creditors had accepted a debt swap that will lead to a substantial dilution of shareholders.
The stock sank more than 48% to $1.03 on Monday, its worst-ever decline. The shares had already fallen 47% this year through Friday.