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Gore’s fake meat business hits tough times: Beyond Meat loss exceeds forecasts on higher costs, slow

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rangerrebew:
Gore’s fake meat business hits tough times: Beyond Meat loss exceeds forecasts on higher costs, slow restaurant sales
 

Reuters: Beyond Meat Inc (BYND.O) reported a wider quarterly loss than expected, as the plant-based meat maker incurred higher freight costs, spent heavily on testing new product launches, and sold less to pandemic-hit restaurants. Shares of the California-based company fell nearly 7% in extended trading...As restaurant sales fell, the company accumulated more pea protein, leading to higher costs for warehousing, it said.

Flashback: Al Gore’s Quest to Be the First Fake Meat Billionaire

- Former Vice President Al Gore, who saw his wealth skyrocket from his climate change crusade after he lost the presidency in 2000, has a new way to profit. ... This pseudo-meat company, called Beyond Meat, was the most successful 2019 IPO in May, as determined by CBS News. Gore’s climate groups invested $200 million in this company, while studies from organizations to which he also has connections urged stores and consumers to look for meat alternatives – the very types of products in which Gore had just placed a massive investment.  The former vice president is a partner and adviser to Kleiner Perkins, an investing firm that is the single largest investor in Beyond Meat.

By: Marc Morano - Climate DepotMay 7, 2021 1:34 PM

 https://www.climatedepot.com/2021/05/07/gores-fake-meat-business-hits-tough-times-beyond-meat-loss-exceeds-forecasts-on-higher-costs-slow-restaurant-sales/

rangerrebew:
And Bill Gates would be more than "patriotic" enough to make available the land (at a fair price, of course) necessary to grow the fake meat sources. :whistle:

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