Beyond Meat Is Not Beyond Financial Expectations...Terrible Results Out of the Gate

Although a loss of $9.4M in the latest quarter (three months) and a $16M loss for the six months period, a signficant portion was attributed to "Remeasurement fo warrant liability".  I will need to investigate, but from experience, this is a non-cash measure (ie. accounting treatment only, as is "Net Loss").

However, further up the income statement, what stands out are the "Selling, General and Administrative Expenses" of $15M (three months) and $26M (six months)!  I have yet to investigate further the components of this and also need to check that depreciation has been included in "Costs of Goods Sold", another non-cash measure.

In addition, insiders have the GALL to file a secondary offering (that is, management are selling their shares during a time where such insiders are not allowed to sell their shares after going public, otherwise known as a "lock up").

Regardless, at first pass, despite the significant revenues (and fake meat) this company is making, Beyond Meat is not posting "income" as per accounting rules, nor making "cash" after ignoring the non-cash items in the income statement.  Throw in a large short position (ie. investors that believe the shares are going to decrease in value) and you have its significant down day after an incredilbe share price run since its IPO.