Beyond Meat Stock Drops Below $1 After Quarterly Results

Beyond Meat, Inc. (NASDAQ:BYND) shares are trading lower Thursday after the company reported first-quarter financials and issued second-quarter revenue guidance below estimates on Wednesday after the market closed.

Beyond Meat stock is feeling bearish pressure. What’s behind BYND decline?

Q1 Highlights
Beyond Meat reported first-quarter revenue of $58.2 million, down 15.3% year-over-year, although it beat the consensus estimate of $58.07 million. The company reported an adjusted loss of 10 cents per share, in line with estimates. 
U.S. retail revenue fell 15.3% year-over-year to $26.6 million, while international retail revenue increased 8.1% to $13.7 million. 
The company ended the quarter with $205.8 million in cash and cash equivalents, including restricted cash. 
CEO Ethan Brown said