Daily Skimm: Beyond Meat, Iran, and Tampax

Not Meating Expectations

The Story

Beyond Meat is having a meltdown.

What do you mean?

Yesterday, leaked photos reportedly show dangerous and dirty conditions at the company’s Pennsylvania plant. Pics show mold on containers, boxes, and walls. Yummy. Leaked docs also revealed that Beyond Meat’s products were reportedly contaminated with listeria on almost a dozen separate occasions. But that’s not all. The issues come amid a wonky time for the meat alternative company. Beyond Meat has ongoing financial struggles that could bring the once-booming company flamming down.

What’s been going on?

Let’s start with stocks. Beyond Meat’s stock dropped nearly 83% in the past year— a blow to a company that saw shares soar went it went public in 2019. The company expected sales to rise as much as 33% this year. Spoiler alert: it didn’t. Partnerships with fast food chains like McDonald’s and Pizza Hut didn’t pan out. And just last month the company was forced to lay off 19% of its staff — with four other executives also recently stepping down. Its own COO also made headlines by seeming to bite off more than he could chew.

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The rump in Beyond Meat’s sales could be another byproduct of inflation as shoppers are looking for cheaper options. But the slowdown shows that the plant-based industry as a whole may have reached its boiling point — and is no longer piquing the interest of new consumers curious to make the meatless switch.

And Also...This

What people are talking about…

Iran’s national team. Yesterday, all players refused to sing Iran’s national anthem ahead of their World Cup match against England. For months, thousands of Iranians have been calling for leadership change and women’s rights. More than 300 people have reportedly been killed. Now, potentially pulling a page out of climber Elnaz Rekabi’s playbook, Iranian soccer players have taken a stance at a public sporting event in an apparent act of solidarity. Ahead of the game, the team’s captain said the players “support” those who’ve died. There’s also worry that the players could be at risk if they express clear support for the protests. But some are saying ‘too little, too late’ after players met with the country’s president in advance of the match. Meanwhile, some fans in the stadium held signs that said “Woman, Life, Freedom.”

Where people are mourning…

Indonesia. Yesterday, a powerful earthquake struck the country’s West Java province — killing at least 250 people. Indonesia is prone to earthquakes, which are sometimes followed by deadly tsunamis. Rescuers have been working around the clock to save others who could still be trapped under debris. But the area struck by the quake is densely populated and vulnerable to landslides. Some buildings have been reduced to rubble. Now, more than 13,000 people are displaced and the death toll is expected to continue rising. One official says over 45 aftershocks were recorded, but no tsunami warning has been issued.

What might need to stay in the medicine cabinet…

Some pain meds. Yesterday a new study found that some anti-inflammatory drugs might actually be hurting people with osteoarthritis. About 32.5 million Americans have been diagnosed with the chronic joint disease. There’s no cure for it, but doctors often recommend anti-inflammatory drugs like ibuprofen and naproxen to ease pain and swelling. But a new study — made up of more than 1,000 people — found that long-term use of some pain-relieving drugs may actually cause joint inflammation and cartilage damage. The researchers said they were “surprised” by the findings and called for more research to figure out why some anti-inflammatory drugs did the opposite of the intended effect to treat arthritis. 

Who had the baste day ever…

Chocolate and Chip.

Who’s dusting off her glass slippers…

Brandy.

Who's not afraid to pull some strings...

Tampax.