Since July 9, Beyond Meat’s stock was nothing but dropping. On that day, it was $141.78. After a week, today it is $128.7 in the pre-market, which results in a 9% loss. The company recently listed its offerings on China’s JD com, the country’s largest eCommerce platform by revenue with close to 200 million customers in total.
JD com 18 cold chain warehouses will provide delivery of Beyond Meat products to buyers within 48 hours of making an order. Online sales in China of fresh food, into which category Beyond Meat’s products fall, are expected to top 300 billion yuan ($46.40 billion) this year, an 18% increase from 2020.
JD com store will at the beginning help increase the availability of its products in four major cities, including Beijing and Shanghai, and resulting in 300 cities in the world’s most populated country.
Finance and Entertainment Reporter
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