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Beyond Meat continues to show that America has an insatiable appetite for fake meat. Well, that or BYND has hired Arthur Andersen and gone full Enron on us. 

The plant-based meat-substitute maker nearly quadrupled its sales last quarter, beating analyst expectations of $52.7M with a $67.3M haul.

And in case that doesn't tickle investor's faux-meat fancy, the meat beater has hiked its full-year revenue projection to $240M from $210M on the strength of its restaurant partnerships and grilling szn.

So, nothing to see here, right?

Wrong. It wasn't all vegan rainbows and gluten-free butterflies. Despite "hockey stick" top-line growth, earnings disappointed. A Q2 loss of $9.4M or 24 cents per share was far worse than the 8 cents per share loss expected.

The widening loss helped send shares spiraling 14% in after-hours trading ...

What else did BYND in?

Greed, for lack of a better word, is good ... except in this case. You see, the company is planning a secondary share offering of some 3.25M shares, 3M of which represent shareholder's equity. At Monday's closing price, the offering will raise more than $700M. It's worth noting only 250k shares sold by the company will benefit it directly.

Beyond Meat posts mixed quarterly results, announces secondary share offering; stock dives [CNBC]


- Uber lays off 400 marketing employees, which seems like a really bad idea for a company trying to become profitable [Bloomberg]

- Capital One will not sit idly by and allow Wells Fargo to be the worst bank in the US [Bloomberg]

- Deutsche Bank employees were so dedicated to fighting the good fight that they were checking email even after being let go [Bloomberg]


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