The big flop
Half of the companies that raised more than $1bn at IPOs this year are trading below their listing price. The busted IPOs include names such as UK food delivery app Deliveroo and Indian payments giant Paytm. Their weak performance has raised questions about the valuations pinned to companies by investors such as SoftBank and underwriters including Goldman Sachs and Morgan Stanley.
The sizzle fizzle
Plant-based meat is losing its sizzle, with falling US sales casting a shadow over expectations that the nascent category would take a chunk out of the real animal meat market. Beyond Meat’s shares have plummeted since it reported a worse-than-expected $106m in third-quarter sales.
The sales downturn comes at a time when more start-ups and food companies are offering new plant-based meat products. The latest entrants are offering realistic "cuts" of meat using techniques such as 3D printing.
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