Beyond Meat’s stock briefly hits all-time low

Shares of Beyond Meat Inc. BYND, -4.59% hit a new all-time low Wednesday, dipping as much as 6.4% before briefly rebounding, as the maker of plant-based meat continues to navigate choppy waters. There was no catalyst for the stock drop, but a series of disappointing earnings results and hints at deep cuts amid escalating competition have battered Beyond shares 69% so far this year. The S&P 500 index SPX, +0.29%, by comparison, is down 17% in 2022.