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McDonald's Ends Testing McPlant Burger, Adding Pressure on Beyond Meat StockThis is a complicated way of saying "nobody wants to buy our product":
By Naveen Athrappully, Epoch Times
McDonald's announced that it has concluded the U.S. trial of its McPlant burger, which is made with the plant-based protein manufactured by Beyond Meat (BYND).
In November 2021, McDonald's began testing the meat-free burger in eight restaurants across America. In February this year, the company introduced the McPlant burger at around 600 locations. According to third-party reports, the experiment ended as a failure. In a recent note, according to CNBC, JP Morgan analyst Ken Goldman cited employees from McDonald's revealing that the burger did not sell well enough.
During the first-quarter earnings call in May, Beyond Meat founder and CEO Ethan Brown explained that the company is finding it difficult to pass on rising costs to customers. "You see all these new entrants coming in, and many of them are using price as a way to try to capture early market share," Brown said, according to the earnings call transcript published at The Motley Fool.Meat costs were rising too, but customers were willing to pay.
"And so while the animal protein industry has been able to substantially increase pricing to essentially offset significant reductions in volume, in our sector, we have not had the opportunity to do that."
Comment: The fact that The ScienceTM has so quickly switched from the saturated-fat-and-cholesterol-clog-your-arteries myth to the TMAO myth should make the real game all-too obvious. They're not interested in the truth. Their entire goal is to get you to stop eating meat.
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