Beyond Meat points to future products amid investor concerns

Beyond Meat continues to look to the future for its plant-based food products.

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The company will see if it can get meat lovers to switch to meat-free versions of steak, bacon and chicken breasts.

Beyond CEO Ethan Brown says the products that consumers look to replace first would be red meat, and processed products like pork sausage, as the company held its quarterly call.

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BYNDBEYOND MEAT INC.
$77.35
-2.37 (-2.97%)

The company acknowledges that price points are important.

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Brown says the long-term goal is to make its meat alternatives cheaper than at least one traditional meat product.

That is something Brown says will happen within four and a half years, but could be sooner.

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One person the company hired to accomplish that former Amazon.com exec Sanjay Shah who became chief operating officer in September.

On Monday, Beyond Meat reported quarterly earnings that topped expectation, but investors were spooked by a jump in spending.

That has shares plunging 9 percent in premarket trading.

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The company's operating expenses leaped more than 123 percent to $29 million compared to $13 million in the year-ago period.