It's probably because people have been judging a food company like a tech stock, and now things are leveling out.
I'm in tech, and (for whatever reason) I feel more kinship toward Beyond Meat than I do Swanson. It hyped itself up as an innovative product (it is!), raised money like an innovative product (sure, why not) and now is being valued like the product it actually is.
This happens all the time (Peloton! Airbnb!), and every time news articles act aghast. At some point, products collide with the industry they're competing with, and start to be valued by the same metrics.
I'm in tech, and (for whatever reason) I feel more kinship toward Beyond Meat than I do Swanson. It hyped itself up as an innovative product (it is!), raised money like an innovative product (sure, why not) and now is being valued like the product it actually is.
This happens all the time (Peloton! Airbnb!), and every time news articles act aghast. At some point, products collide with the industry they're competing with, and start to be valued by the same metrics.